Goldman Sachs Upgrades Oracle (ORCL) to Conviction Buy

Goldman Sachs added Oracle (NASDAQ: ORCL) to its Conviction Buy List with a price target of $33, suggesting 27% upside. The firm said the recent pullback creates even more attractive entry point.

"Even off our lower-than-consensus CY12E EPS, Oracle trades at 11X, which compares to its five-year average of 15X and trough during the financial crisis of 9.4X (represents only 12% downside)," the analyst said.

The firm also believes Oracle will be able to navigate the choppy waters and protect EPS better than any of its mega-cap peers.

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

Shares of Oracle closed at $26.00 yesterday.

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