Citi Maintains Buy on Oracle (ORCL)

Citi is out with its report today on Oracle ORCL, maintaining its Buy rating.

In a note to clients, Citi writes, "Oracle shares are trading at a 4% premium to the S&P, closer to its historical 10-25% premium as concerns around the Sun acquisition have dissipated and investors look to areas such as applications software and appliances to drive growth in the recovery. We believe Oracle can still drive meaningful upside to consensus numbers. We expect that upside to numbers can still be rewarded with some multiple expansion, but we note the majority of share upside will have to come from EPS."

Citi has a $34 PT on ORCL.

At the time of posting, shares of ORCL were trading at $30.40, up 0.66% from Wednesday's close.