Oracle price target raised to $140 from $105 at DA Davidson

DA Davidson raised the firm’s price target on Oracle to $140 from $105 but keeps a Neutral rating on the shares. The company reported “solid” results that were mainly driven by increased demand within the quarter for AI training compute capacity on OCI, or Oracle Cloud Infrastructure, the analyst tells investors in a research note. Oracle management also expects the demand to remain strong for AI compute along with their current contract backlog that they believe will result in accelerating revenue growth, the firm added.