Oracle price target raised to $125 from $110 at Evercore ISI

Evercore ISI analyst Kirk Materne raised the firm’s price target on Oracle to $125 from $110 and keeps an In Line rating on the shares after the company delivered what the firm calls “a solid finish to the year.” Organic cloud revenue grew 33% and “perhaps most impressively” free cash flow grew at 46%, the analyst tells investors. While the firm says it has “clearly missed out on this rally,” at the current valuation it believes “a lot of good news surrounding the cloud transition and Oracle’s opportunity in AI is baked in.” However, until the trend line breaks, Evercore expects shares should “at least keep pace with the broader software space and the fundamental outlook for Oracle remains promising,” the firm added.