Pacific Crest Raises Price Target On Oracle - Oracle (NYSE:ORCL)

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In Wednesday's morning summary, Pacific Crest raised the price target on

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Oracle Corporation

(NASDAQ: ORCL) and maintained an Outperform.In a look at the company, analyst Brendan Barnicle wrote, "Oracle has a significant advantage because it has a broader set of applications than its competitors." Barnicle continued, "Oracle is taking advantage of its installed base, but also adding some net new customers in the mid-market."Turning to the vaulation, Barnicle explained that the raise in price was due to an increase in his multiple assumption (from 12x to 14x) based of F2015 estimated EPS of $3.28, which he noted is still a discount compared to SAP and the S&P 500.