UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Oracle Corporation

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Oracle Corporation (NASDAQ: ORCL), and slightly raised its price target from $34.00 to $35.00.Jefferies noted, “F2Q13 results were ahead as license strength (+10% Y/Y cc organic growth) more than offset weak Hardware (-23% Y/Y). NG EPS of $0.64 was $0.03 above the Street/ $0.01 above the top-end of guidance. In-line F3Q13 rev guidance reflects in-line license growth (+8% Y/Y at MP) and sequential increase in Hardware. The MP EPS guidance of $0.66 matches the Street. Our thesis is unchanged; Maintain Hold but raise PT to $35.”Oracle Corporation closed on Tuesday at $32.88.