Goldman Sachs Updates Oracle/BEA Targets, Issues Buy on Oracle (ORCL, BEAS)
March 6, 2008 by Douglas A. McIntyreOracle Corp. (NASDAQ: ORCL) is being reinstated as a "Buy" rating in new coverage this morning at Goldman Sachs. The firm notes that with macroeconomic concerns being front and center, shares of the enterprise software giant are down 18% so far in 2008.
It also notes the forward EPS multiples being a mere 15.8 for 2008 and 12.2 for 2009. Both multiples are under the industry average by about 20% and are also at a discount to the S&P. Based on yesterday’s close, Goldman Sachs sees a 23% gain opportunity to its target.
With the acquisition of BEA Systems (NASDAQ: BEAS), Goldman Sachs has issued the following metrics for forward years:
- 2008 is $1.26 EPS, same as before;
- 2009 is $1.47 EPS, up from $1.41 before;
- 2010 is $1.63 EPS, up from $1.60 before.
Jon C. Ogg
March 6, 2008
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.