- The shares of Oracle (ORCL) recently received a $90 price target from BMO Capital. These are the details.
The shares of Oracle (ORCL) recently received a $90 price target from BMO Capital.
Price target: Increased from $86 to $90
Rating: Market Perform
Analyst: BMO Capital analyst Keith Bachman
Bachman adjusted the rating while noting that the company’s 8% organic revenue growth in the first quarter is a reasonable outcome given the macro environment while maintaining FY 2023 guidance for 30% organic cloud growth highlights the durability and healthy market demand for Oracle’s cloud solutions. But Bachman pointed out that while he has higher conviction in ERP, HCM, and SCM growth for Oracle, the analyst still has residual questions on Oracle’s durable database revenue growth potential.