Evercore ISI raised the firm’s price target on Oracle to $131 from $125 and keeps an In Line rating on the shares. Oracle shares are down this morning, but the firm thinks “this is more the case of expectations getting ahead of themselves” and not due to “any major surprises” as it relates to the company’s fiscal Q1 report. License and hardware came in “a bit below expectations,” but total Cloud services revenue grew about 30% to $4.6B, notes the firm, which adds that “Oracle remains upbeat about databases becoming the third leg of the cloud growth story.”
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