Oracle price target raised to $170 from $150 at Jefferies

Jefferies raised the firm’s price target on Oracle to $170 from $150 and keeps a Buy rating on the shares. The company last night “delivered against a seasonally soft” fiscal Q1 with accelerating remaining performance obligation growth “leading the way,” offset by capex down 18% quarter-over-quarter to $2.3B, the analyst tells investors in a research note. The reiterated fiscal 2025 guidance metrics are viewed positively as it implies sequential ramps through the year, says the firm. Jefferies cites Oracle’s accelerating growth for the target increase.