Oracle "strong buy," estimates raised

03/23/05 - JMP Securities

NEW YORK, March 23 (newratings.com) - Analysts at JMP Securities maintain their "strong buy" rating on Oracle Corporation (ORCL), while raising their estimates for the company. The target price is set to $18.

In a research note published this morning, the analysts mention that the company reported its F3Q05 EPS marginally ahead of the consensus and the estimates. While the performance of Oracle's technology business was robust during the quarter, the performance of the company's applications business was disappointing, the analysts say. JMP Securities adds, however, that the acquisitions of PeopleSoft and Retek are likely to strengthen Oracle’s applications business. The EPS estimates for FY05 and FY06 have been raised from $0.64 to $0.67 and from $0.79 to $0.82, respectively.