Oracle (ORCL) PT Raised to $82 at KeyBanc Ahead of Earnings
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KeyBanc analyst Michael Turits raised the price target on Oracle (NYSE: ORCL) to $82.00 (from $70.00) noting a bull case for multiyear revenue acceleration ahead of F3Q earnings Wednesday 3/10 AMC.
The analyst reiterated an Overweight rating, stating "We see an improved enterprise software spending environment and trends at Oracle favoring revenue acceleration from LSD in our base case up to at least MSD in the next few years in our bull case, including: improved demand for back office cloud migrations, Cloud@Customer/OCI gen2 catalyzing upgrades to ADB, and increased interest in OCI gen2 public cloud. PT to $82 or 16.3x FY23 EPS vs. 22.4x for S&P 500."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesKeyBanc, Standard & Poor's, Earnings
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