Jefferies raised the firm’s price target on Oracle (ORCL) to $400 from $360 and keeps a Buy rating on the shares following the analyst meeting. The firm believes Oracle is entering a “new growth phase” as it capitalizes on an artificial intelligence infrascture supply/demand imbalance. Partner and customer feedback is “notably more positive” on the company, the analyst tells investors in a research note. Jefferies points out that Oracle’s new five-year sales and earnings targets imply total revenue will nearly four-times and earnings will grow about 3.5-times from fiscal 2025 to 2030.
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