Jefferies analyst Brent Thill raised the firm’s price target on Oracle to $85 from $75 and keeps a Hold rating on the shares. The stock has outperformed since the company’s "bullish" analyst day on October 20 with investors turning incrementally positive on management’s plans to accelerate revenue growth while becoming more profitable, Thill tells investors in a research note. The analyst calls Oracle "an outlier in software with a bullish outlook amid a deteriorating IT environment." He thinks the stock can continue grinding higher with ongoing execution but remains concerned about the bullish outlook management has been indicating.
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