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Update: Oppenheimer Raises Oracle Price Target to $275 From $235 Due to 'Strengthening Business Momentum', Maintains Outperform Rating

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(Updates with the analyst's commentary.)

Oppenheimer raised its price target on Oracle (ORCL) to $275 from $235, highlighting the company's fiscal Q4 resuklts, especially stronger expected (Oracle Cloud Infrastructure) growth.

"We believe our research mosaic (large partners and competitor checks, regression analysis and company-specific data) around enterprise IT demand, business activity, top of the funnel momentum, potential upside to estimates, and the earnings setup are positive for Oracle in F4Q," analysts Brian Schwartz and Idan Gutkind wrote in a Monday note.

Oracle's partners also posted huge capital expenditures, which reflects "greater than expected IT demand," the analysts mentioned.

Oracle has an average rating of overweight and mean price target of $254.38, according to analysts polled by FactSet.

Price: $214.15, Change: $+0.47, Percent Change: +0.22%

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