Oracle price target raised to $186 from $160 at Citi
Citi raised the firm’s price target on Oracle (ORCL) to $186 from $160 and keeps a Neutral rating on the shares. Heading into Oracle’s fiscal Q4 print, the firm has increased confidence in company fundamentals but sees risk to near-term earnings estimates. Citi’s quarterly reseller survey showed improvement in quota achievement, offset by weaker growth, the analyst tells investors in a research note. The firm would look to get more constructive on the shares on greater conviction around the pace of profitability improvement in cloud and a database modernization story.
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