Oracle price target raised to $200 from $185 at Guggenheim

Guggenheim raised the firm’s price target on Oracle to $200 from $185 and keeps a Buy rating on the shares after having attended Oracle CloudWorld 2024 and the company’s financial analyst meeting this week in Las Vegas, where the company the company updated and expanded on long-term targets including revenue of greater than $104B at 45% operating margin by FY29. The “last decade was challenging at times” for Oracle, but “the next decade should be … exciting,” says the analyst, who reiterates a Best Idea designation on shares and raised the firm’s target based on higher growth and cash flow in the outyears.