UPDATE: Canaccord Genuity Upgrades Oracle (ORCL) to Buy, Set to Gain 20%

March 13, 2013 7:44 AM EDT
Get Alerts ORCL Hot Sheet
Price: $39.19 --0%

Rating Summary:
    33 Buy, 19 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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(Updated - March 13, 2013 8:24 AM EDT)

Canaccord Genuity upgraded Oracle (NASDAQ: ORCL) from Hold to Buy with a price target of $42.00 (from $35.00).

Analyst Richard Davis said the firm is set up well to gain 20% this year. He expects Oracle deliver 9 to 11 percent EPS growth this year and thinks its multiple relative to peers IBM (NYSE: IBM) and SAP AG (NYSE: SAP) can expand given its current 10 to 25 percent discount valuation.

For an analyst ratings summary and ratings history on Oracle click here. For more ratings news on Oracle click here.

Shares of Oracle closed at $35.43 yesterday.

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