Evercore ISI analyst Kirk Materne raised the firm’s price target on Oracle (ORCL) to $350 from $340 and keeps an Outperform rating on the shares. The firm refreshed its model heading into Oracle AI World and the financial analyst meeting next week in Las Vegas, telling investors that it expects Oracle to update its long-term revenue and EPS guidance. The FY30 OCI revenue “tease” on the fiscal Q1 EPS call of $144B gives the firm confidence that getting a refreshed revenue forecast for FY30 “seems likely,” adds the analyst, who expects Oracle could deliver some upside to the firm’s FY30 revenue forecast as $200B “seems reasonable” and confirm annualized EPS growth for FY25-30 of about 20%.
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