Oracle price target raised to $145 from $130 at Evercore ISI

Evercore ISI analyst Kirk Materne raised the firm’s price target on Oracle to $145 from $130 and keeps an Outperform rating on the shares. Oracle Cloud Infrastructure, or OCI, revenue growth of 52% in constant currency was in line with the firm’s expectations and “importantly,” fiscal Q4 guidance infers OCI growth of about 40% against a very difficult comparison, the analyst tells investors in a post-earnings note. In terms of other key takeaways from the quarter, the firm highlights that Q4 revenue growth guidance of 4%-6% was slightly below Street expectations of 6.3%, but that management expects growth of 6%-8% excluding Cerner and believes Cerner will deliver growth in FY25.