Oracle price target raised to $87 from $75 at UBS

UBS analyst Karl Keirstead raised the firm’s price target on Oracle to $87 from $75 and keeps a Neutral rating on the shares. Oracle posted a modestly disappointing Q3 print, marked by organic c/c growth of 7% and organic c/c Cloud growth of 28%, the analyst tells investors in a research note. The firm thinks it will be "challenging" for Oracle’s Cloud growth to hit the 30%+ target for FY23 and for its CapEx to slow to $6B-$7B in FY24 from $9B in FY23.