Bank of America Reiterates Buy Rating, $39 PO on Oracle

Oracle Corp. ORCL is the best positioned LT and “winner in our ‘Stack Wars' thesis positioned to capitalize the opportunities created by Big Data, in our opinion,” Bank of America reports. “We see a trifecta of product cycles: 1) a database refresh in C11; 2) Exadata, a hardware appliance built with Oracle software (multibillion $ potential) and 3) Fusion Apps, a potentially significant once a decade cycle,” Bank of America writes. “We reiterate our Buy rating and PO of $39 based on 16x FY12E pro forma EPS of $2.40.” Oracle closed Wednesday at $32.88.