Stock Watch: Oracle Hits Record High

The stock of software company Oracle (Nasdaq: ORCL) gained3-5/8 to an all-time closing high of 51-3/16 on Monday after Merrill Lynch raised its price target on the stock from $55 to $60. Part of the reason that Merrill Lynch is bullish on the company is the investment firm believes Oracle is working on “very large deals” in which the company will help launch e-commerce sites for brick-and-mortar companies. Obviously, Oracle is now much more than just the world’s largest database software company. It is clearly a major Internet infrastructure company, and it looks like more and more investors are starting to recognize this fact. Oracle stands to a big beneficiary of the growth of e-commerce. Its customers include everybody from E*Trade and Cisco Systems to Onsale and 1-800-Flowers.com.

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