Goldman Sachs Lifts Numbers on Oracle (ORCL) After Q4, Keeps Top Rating

Goldman Sachs bumped its price target higher on Conviction Buy List-rated Oracle (NASDAQ: ORCL) from $35 to $36 following Q3 results after the close that beat on the bottom and top line, although the bottom line benefitted by 3.5 cents from a lower tax rate and share count, the firm notes.

"While we believe the concern surrounding Oracle’s stock will not be fully assuaged with this quarter’s results as many wait to see the turn in the hardware segment, we believe consistent license performance and increasing margins remain a core driver of the Oracle story which leads us to reiterate our CL-Buy on the stock," the analyst commented.

Goldman raised FY12E and FY13E EPS from $2.37 and $2.65 to $2.42 and $2.69, respectively,

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

Shares of Oracle are up 0.9% Wednesday to $30.37.

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