BMO Capital raised the firm’s price target on Oracle (ORCL) to $345 from $275 and keeps an Outperform rating on the shares. The company reported an incredibly strong bookings quarter, captured in 359% y/y RPO – Remaining Performance Obligations – growth, the analyst tells investors in a research note. Despite a lackluster August quarter and November quarter revenue guide, the firm has “incremental confidence” in the durability of the company’s revenue and operating income growth, BMO added.
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