MKM Raises PT on Oracle (ORCL), Says Fiscal Cliff Immaterial to Year-End Sales

Following the release of Oracle's (NASDAQ: ORCL) Q2 earnings report yesterday, MKM Partners reiterated a Buy rating on the stock and raised its price target to $38.00 (from $36.00).

Analysts said Oracle's constructive outlook should set a positive tone for enterprise software stocks into year-end. They also said fiscal cliff seen as not having material impact on year-end sales as budget flush appears in play.

"Given recent sales productivity gains, we view guidance as conservative," added analyst Israel Hernandez.

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 $32.88 yesterday.

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