Oracle (ORCL) PT Raised to $190 at Evercore ISI

Evercore ISI analyst Kirk Materne raised the price target on Oracle (NYSE: ORCL) to $190.00 (from $175.00) while maintaining a Outperform rating.

The analyst commented: "Oracle capped off a very positive week (starting with solid F1Q results) with a very bullish initial long-term outlook at its Financial Analyst Meeting. Oracle is now expecting FY26 revenue to be above $66bn (inferring >12% revenue growth in FY26) and the company expects FY29 revenue to be ~$104bn, which infers a ~16% revenue CAGR coupled with EPS growth accelerating to ~20% in FY29. Clearly, just seeing revenue growth accelerate over FY25 is the first step towards these long-term goals, but the momentum in Oracle’s hyper-scale cloud business is showing up in the strong growth in RPO (now $99bn; +52%) and there is now a bigger potential opportunity for the database business given Oracle’s new cloud partnerships with the likes of AWS, Azure and GCP. The flexibility of Oracle’s cloud architecture is also helping to deliver big customer wins, especially in regions with data sovereignty regulations, and we believe the company’s ability to deliver ‘full stacks’ to customers from apps through the infrastructure remains an advantage. Given the growing confidence in the out-year growth forecast, we are bumping our PT to $190 or 28x CY25 EPS."

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