Oracle (ORCL) PT Raised to $147 at Barclays, 'RPO Strength And Capex Ramp Point To Better Times Ahead'
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Get Alerts ORCL Hot Sheet
Price: $126.16 +0.49%
Rating Summary:
48 Buy, 22 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 15
Rating Summary:
48 Buy, 22 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 15
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(Updated - March 12, 2024 4:26 AM EDT)
Barclays analyst Raimo Lenschow raised the price target on Oracle (NYSE: ORCL) to $147.00 (from $140.00) while maintaining a Overweight rating.
The analyst comments "Q3 in itself was a solid quarter for ORCL with slightly better application and infrastructure growth. However, the items investors will more likely focus on are higher Capex this quarter and expected next FY ($2.1bn for Q3 underlying, $10bn for FY25) along with healthy RPO growth as this suggests higher cloud growth ahead."
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