Markets & Finance

CIBC World Upgrades Oracle to 'Buy'

CIBC World upgraded Oracle Corp. (ORCL) to buy from hold.

Analyst Melissa Eisenstat upgraded on a price basis and says recent field checks indicate that the current business is on track, albeit sluggish. She thinks the long-term potential for Oracle 9 database is very strong. Although it could take several quarters until there is any indication of momentum, she thinks this stock should be one of the first to benefit from any uptick. She has a $18 target, at 35 times her $0.47 2002 EPS estimate.

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