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Oracle's Core Business Strength Likely Sustained in Q4, BofA Securities Says

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Oracle's (ORCL) core business strength likely sustained in Q4 as the company ramps data center buildout to meet its backlog commitments amid rising demand for computing power, BofA Securities said in a Tuesday research report.

The company will report Q4 results after the close on Wednesday, June 10.

Double-digit stock gains since fiscal Q3 could be attributed to broader software strength and lower funding overhang, according to the note.

The brokerage said it expects Cloud PaaS/IaaS to grow 94% in Q4 as more data center capacity comes online. Cloud and software gross margin is expected at 70%, but capex is likely to remain elevated, with BofA modeling $68.3 billion in fiscal 2027.

The brokerage said it reiterated its buy rating on the stock and boosted its price objective to $240 per share from $200.

Price: $212.22, Change: $+0.40, Percent Change: +0.19%

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