Oracle price target raised to $240 from $205 at Citizens JMP

Citizens JMP analyst Patrick Walravens raised the firm’s price target on Oracle (ORCL) to $240 from $205 and keeps an Outperform rating on the shares. Oracle reported better than expected Q4 results and “quite impressive” guidance, the analyst tells investors in a research note. Citizens continues to view the stock as an attractive opportunity for capital appreciation due to its strong and accelerating bookings growth, which is driving a revenue reacceleration.