Markets & Finance

Needham Upgrades Oracle to 'Strong Buy'

Needham upgraded Oracle (ORCL) to strong buy from buy.

Analyst Richard Davis says the company hosted its annual Analyst Day, at which it discussed in detail the company's structure, advantages and marketing position for each of its

primary solutions. Davis believes the company's business is on the verge of an improvement that is likely to last at least five quarters. He notes some of the improvement will be easier sales comparisons, but most will be real -- as much-improved applications, database and application servers gain traction in

the marketplace.

Davis says results are likely to be a more a favorable view of the company's prospective growth. He sees Oracle posting year-over-year EPS growth of 20%+ for the next four to six quarters as calendar 2002 begins. He has a $25-$27 target.

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