To: Redhook who wrote (25075 ) 11/17/1999 12:58:00 PM From: U Up U Down Respond to of 43080
RESEARCH ALERT - Oracle boosted by brokers Wed Nov 17 10:36:00 EST 1999 NEW YORK, Nov 17 (Reuters) - Merrill Lynch, Lehman Bros., Salomon Smith Barney and J.P Morgan on Wednesday raised their target prices and/or raised their ratings on software maker Oracle Corp. . -- Merrill raised its price target to $80. -- reiterated buy rating. -- cited "bullish outlook for November quarter and FY 2000 at company's 1999 Analyst Day." -- said, "Oracle chief financial officer indicates that second quarter of fiscal 2000 is tracking ahead of Street forecasts." -- said, "Company management feels 'more and more confident' that Y2K will have no negative impact on business." -- said, "We suspect management's bullish outlook stems from rapid increases in e-business/Front Office application sales, a post-Y2K rebound in traditional applications drivers, and Oracle technology as the platform of choice for e-commerce data management." -- Lehman raised its price target to $82 from $53. -- maintained its fiscal 2000 EPS estimate at $1.03. -- raised its fiscal 2001 EPS estimate to $1.30 from $1.16. -- said, "Senior management indicated that the current quarter is very good. Pipeline is strong. First two months have been the strongest seen in a year, with strong followthrough to the last month in the quarter." -- Salomon Smith Barney reiterated its buy rating. -- raised its price target to $75 from $65. -- said, "Senior management indicated that business trends so far this quarter are very healthy and the pipeline looks extremely strong." -- said, "Customers and prospective customers are also buying into the story in a big way. Oracle has done a masterful job of positioning its products for the Web, particularly its applications." -- J.P Morgan raised its rating to buy from market performer. -- Oracle shares were up 5-15/16 at 70-7/16 in early trading on the Nasdaq stock market. ((--Wall Street Desk, 212-859-1730)) REUTERS Rtr 10:36 11-17-99