Stephens initiated coverage of Oracle (ORCL) with an Equal Weight rating and $167 price target The firm is positive on the company’s large market share in key parts of the back office software value chain along with its increasing mix of strategic and growing applications, the analyst tells investors in a research note. Stephens cautions however that Oracle’s IT infrastructure opportunities are partially priced in at current levels given the muted stock reaction to “dramatic” RPO – Remaining Performance Obligations – growth recently.
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