DA Davidson raised the firm’s price target on Oracle (ORCL) to $300 from $220 and keeps a Neutral rating on the shares. The company’s “largely in-line” Q1 earnings were highlighted by continued demand for AI compute on Oracle Cloud Infrastructure, which is expected to record $363B over the subsequent four years, the analyst tells investors in a research note. RPO – Remaining Performance Obligations – came in at $455B, up 359% in constant currency, with management noting that RPO is likely to exceed $500B over the next few months due to signing several additional multi-billion-dollar customers, the firm added.
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