Mizuho raised the firm’s price target on Oracle (ORCL) to $350 from $300 and keeps an Outperform rating on the shares following the earnings report. While the fiscal Q1 report was “mixed,” the company reported “explosive” artificial intelligence-driven remaining performance obligation growth up 359% year-over-year to $455B, the analyst tells investors in a research note. The number highlights Oracle’s rise as a key AI infrastructure provider, contends Mizuho. The firm is now more bullish on Oracle over the longer term.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ORCL:
- Oracle price target raised to $345 from $275 at BMO Capital
- Oracle price target raised to $375 from $250 at Guggenheim
- Oracle price target raised to $340 from $270 at Evercore ISI
- Oracle price target raised to $360 from $270 at Jefferies
- Oracle’s Growth Potential Driven by Cloud Infrastructure Demand and Strategic Initiatives: A Buy Rating