Nomura Securities Maintains a 'Buy' on Oracle (ORCL); Kick-off to Annual OpenWorld User Conference

Nomura Securities maintains a 'Buy' on Oracle (NASDAQ: ORCL) price target of $34.00.

Nomura analyst, Rick Sherlund, said, "Sunday evening Larry Ellison keynoted the kick-off to Oracle’s annual OpenWorld user conference. The user conference will span this coming week, ending with the company’s financial analyst meeting on Thursday. As expected, Mr Ellison announced Oracle’s new in-memory product, Exalytics, which works in unison with Oracle’s Exa- product line, handling relational, multi-dimensional and unstructured data within a “parallel everything” architecture. We remain positive on the stock and maintain our Buy rating and $34 price target. We expect more details about the Ex-line systems as well as customer testimonials throughout OpenWorld and the accompanying financial analyst day this week. The stock is trading at CY2012 P/E of 11x, in line with applications group at 12x."

For more ratings news on Oracle click here and for the rating history of Oracle click here.

Shares of Oracle closed at $28.74 yesterday.

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