Oracle price target lowered to $145 from $165 at RBC Capital

RBC Capital analyst Rishi Jaluria lowered the firm’s price target on Oracle (ORCL) to $145 from $165 and keeps a Sector Perform rating on the shares. The company reported a mixed quarter as Q3 revenue slightly missed on a constant currency basis with capacity constraints having impacted results, though on a positive note, 63% RPO growth was strong but “somewhat as expected” from a large deal with Meta Platforms (META), the analyst tells investors in a research note. OCI – Oracle Cloud Infrastructure – growth held in better than expected, but with continued capacity constraints, the firm “struggles” to see a path to meaningful acceleration, RBC adds.