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Oracle price target raised to $205 from $173 at BMO Capital
The Fly

Oracle price target raised to $205 from $173 at BMO Capital

BMO Capital raised the firm’s price target on Oracle (ORCL) to $205 from $173 and keeps a Market Perform rating on the shares after its Q2 earnings. The company’s 50% constant-currency Remaining Performance Obligations – RPO – growth is a “solid” result, and while Cloud services revenue growth of 24% was a touch disappointing conversion from RPO, it was still “healthy”, the analyst tells investors in a research note. Oracle’s expense management was also “impressive” despite the sales mix headwinds, with operating margins increasing by 60bps, BMO adds.

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