Jefferies Comments On Rracle Pizazz

According to Jefferies, Oracle ORCL reported F4Q11 slightly ahead of consensus, but the quality/ size of the beat wasn't as impressive as recent quarters. Jefferies said that ORCL reported F4Q11 license/ NG rev/ NG EPS of $3.7B/ $10.8B/ $0.75 v us at $3.7B/ $10.8B/ $0.72 and the Street at $3.6B/ $10.8B/ $0.71. “Our $38PT is 15X our CY12 EPS est of $2.54 at the end of CY11. This is in line with our op income growth in FY12-FY13. It is a premium to most other large cap tech companies, warranted we believe by growth, op margins and competitive position. Risks include changes to IT spend, the engineered system strategy and potential large acquisitions.” Oracle closed yesterday at $32.46.