Oracle price target raised to $95 from $90 at BMO Capital

BMO Capital analyst Keith Bachman raised the firm’s price target on Oracle to $95 from $90 and keeps a Market Perform rating on the shares. While cloud was stable in Q2, Oracle maintained a forecast of greater than 30% y/y CC organic Cloud growth in FY23, implying an acceleration in the cloud business in 2HFY23, but Bachman is kept on the sidelines by free cash flow underperformance and valuation, the analyst tells investors in a research note.