BMO Capital analyst Keith Bachman reiterated a Market Perform rating and $173.00 price target on Oracle (NYSE: ORCL).

The analyst commented, "We come away from the multi-day user group and analyst events more encouraged about Oracle’s positioning and prospects. While a raise to previous FY26 target was expected, we think establishing new and ambitious FY29 targets will inspire more confidence in the FY26 targets and sustainable growth. We think valuation for both Oracle and Microsoft is more driven by PE than FCF multiples, given heavy cap ex cycles, which likely provides more upside tension for the ORCL shares. No changes to our estimates or our Market Perform rating."

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Shares of Oracle closed at $161.38 yesterday.