Oracle price target lowered to $147 from $150 at Barclays

Barclays analyst Raimo Lenschow lowered the firm’s price target on Oracle to $147 from $150 and keeps an Overweight rating on the shares following the fiscal Q1 report. The long-term story for Oracle “got stronger in Q1” with better cloud revenue, strong deferred revenue and artificial intelligence backlog commentary, the analyst tells investors in a research note. However, licenses have tough compares, Cerner is in software-as-a-service transition and shares were already up a lot recently, so net/net the Q1 report “doesn’t look like a short term catalyst,” says the firm.