Piper Jaffray Maintains Overweight on Oracle

Piper Jaffray is out with its report today on Oracle ORCL, maintaining Overweight. In a note to clients, Piper Jaffray writes, "We recently surveyed 39 Oracle partners and asked them 'if something is to go wrong for ORCL in the next 12 months, what would cause it?' Macroeconomic conditions including the European debt crisis ranked at the top of the list, followed closely by the shift in spending toward Cloud computing and the potential for bugginess in Fusion applications. Partners are much less concerned about Sun losing marketshare and recent drama surrounding lawsuits (Google, Rimini Street) or the HP/Itanium bickering. Net/net, we continue to expect ongoing marketshare gains for ORCL, but walk away less concerned about Sun and more intrigued by the inevitable creep of Cloud computing. Overweight, $37 price target." Shares of ORCL closed Wednesday at $33.21, up 0.45% from Tuesday's close.