Oracle price target raised to $120 from $111 at Citi

Citi raised the firm’s price target on Oracle to $120 from $111 and keeps a Neutral rating on the shares. The firm expects near-term uncertainty to persist at Oracle in Q3, with its quarterly reseller survey indicating mixed results though marginally improving off last quarter’s more cautious trends. Though investor expectations are relatively muted, OCI momentum may fail to inflect sufficiently to hit the steep ramp implied in the second half of the year/Q4, Citi said in a research note on Friday.