BofA raised the firm’s price target on Oracle to $195 from $175 and keeps a Neutral rating on the shares. After having attended Oracle’s CloudWorld conference and analyst day in Las Vegas, the analyst says Oracle is “clearly making strides with the cloud in both infrastructure and applications.” The FY29 target for revenue of $104B suggests a “healthy” 16% four-year compound annual growth rate, up from the firm’s FY24 estimate of 11%, driven by traction in the cloud, the analyst said. However, commentary suggests that the capital expenditure ramp places the framework for greater than 10% EPS growth at risk between FY26 and FY29, the analyst added.
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