Piper Sandler raised the firm’s price target on Oracle (ORCL) to $330 from $270 and keeps an Overweight rating on the shares. The firm says that the transformation of Oracle from technology stalwart into a secular winner in AI infrastructure was on full display as contracted backlog surged by $317B in a single quarter with RPO rising to $455B with upside driven by four multi-billion-dollar contracts with three different customers. Cloud RPO grew nearly 500% year-over-year.
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Read More on ORCL:
- Oracle upgraded to Buy at BofA after ‘exceptional’ backlog growth
- Oracle’s Promising Growth: Buy Rating Backed by Surging RPO and Strategic AI Investments
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