TD Cowen Reiterates Buy Rating on Oracle (March 11)

TD Cowen analyst Derrick Wood reiterated a Buy rating and $250.00 price target on Oracle (NYSE: ORCL).

“ORCL beat on revs/EPS, w/ OCI and EBIT growth both meaningfully accelerating & topping Street ests.

New pre-pay & BYOC frameworks offer a new debt-free growth lever. Consistent w/ our checks, capacity builds are accelerating, driving ORCL to raise FY27 rev guide by ~$1b.

Shares +9% on better than feared results & we see this print as a turning point for the stock. Reiterate Buy & $250 PT.

Expectations had been tempered into the qtr, and a clean beat drove shares +9% AH.

New pre-pay & BYOC & frameworks enable further growth w/o extra capital requirements or departure from IG credit rating.

At an ~18x CY27E P/E in AH, we see ample room for shares to re-rate higher as ORCL continues to execute on growth acceleration. Reiterate Buy & PT of $250 (~27.5x CY27E P/E).”

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