UPDATE: Oppenheimer Raises PT on Oracle; Seasonal Trends Getting Stronger

Oppenheimer maintained Oracle Corporation

with an Outperform rating and raised the price target from $37.00 to $40.00. Oppenheimer analyst Brian Schwartz commented, "We anticipate Oracle's EPS growth trajectory to at least be maintained subsequent to 3Q results as sales productivity gains become more pronounced. This year's higher distribution levels increase our confidence that Oracle's large deal-driven sales momentum can be sustained long enough for its M&A and organically driven product strategy to successfully re-energize its product portfolio. [...] Additionally, investors are likely to bid up the shares in the short term as the company enters its seasonally strong 4Q and given attractive risk/reward profile." Oracle Corporation closed at $36.34 on Friday.