Street View: Oracle story positive for now with long-term under watch
Oracle ORCL.N raised its annual revenue growth forecast on Wednesday expecting continued demand for cloud offerings from companies deploying artificial intelligence
The cloud service provider's shares rose 7.8% premarket
Median PT of 40 brokerages covering the stock is $197.21; average analyst rating is 'buy'- LSEG data
FAITH IN ORACLE STORY BUT EYES TOWARD THE FUTURE
Barclays ("overweight," PT: $221) says they "expect Q4 to re-ignite investor interest in the Oracle story and increase confidence that the company can deliver on its ambitious medium-term growth targets"
Piper Sandler ("neutral," PT: $190) says "ORCL has entered an entirely new wave of enterprise popularity that it has not seen since the Internet era in the late 90s"
RBC ("overweight," PT: $221) says despite the quarter being a step in the right direction, they are uncertain about near term acceleration due to capacity constraints
J.P. Morgan ("neutral," PT: $185) says they are positive about co's achievements in AI but continue to remain mindful of valuation
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