Oracle price target raised to $364 from $363 at Bernstein

Bernstein raised the firm’s price target on Oracle (ORCL) to $364 from $363 and keeps an Outperform rating on the shares. After updating its long view estimates to incorporate management’s guidance, the firm expects Oracle’s growth to accelerate for the next few years; revenue and operating profit growth will accelerate and once growth slows, free cash flow margins will rebound, and the value created for investors will be substantial. Looking 5-10 years out, Oracle should be many times larger on most factors that investors care about, Bernstein adds.