UPDATE: Oppenheimer Raises PT to $37 on Oracle Following Positive Q2 Results

Oppenheimer reiterated its Outperform rating on Oracle ORCL and increased its price target from $36 to $37. Oppenheimer said, "We believe Oracle's internally-driven new product-cycles are gaining traction within the base, and as the uptake becomes more meaningful (over the next 12-18 months) it should start yielding greater operating leverage and serve as a catalyst to drive a revaluation of the stock multiple." Oracle closed at $32.88 on Tuesday.