Oracle price target raised to $75 from $72 at Stifel

Stifel analyst Brad Reback raised the firm’s price target on Oracle to $75 from $72 and keeps a Hold rating on the shares following the company’s "solid" fiscal Q2 results. Management reiterated last quarter’s expectation for 30%-plus constant currency organic cloud revenue growth in FY23, noted Reback, who expects consistent short-term results given the near-term Cerner tailwinds and existing Oracle customers lifting and shifting on-premise work loads to the Oracle Cloud.