Stifel analyst Brad Reback raised the firm’s price target on Oracle (ORCL) to $175 from $155 and keeps a Hold rating on the shares. Q2 results were “essentially inline” after adjusting for incremental forex headwinds that were not anticipated in the original guidance, but the stock traded off about 7% in the after-hours session as RPO declined $2B sequentially, the analyst noted. However, management remains upbeat around AI-driven bookings strength looking forward, the analyst added.
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