TD Cowen Raises Oracle Price Target to $300

TD Cowen analyst Derrick Wood raised the price target on Oracle (NYSE: ORCL) to $300.00 (from $250.00) while maintaining a Buy rating.

“Favorable Setup with Growth Acceleration & Opex Reduction; ORCL reports 4Q on 6/10.

We think the combo of a step-up in GPU capacity alongside a cut to opex makes for a favorable setup.

We expect continued growth acceleration in OCI (~92% cc vs. ~81% in 2Q) given capacity adds, and we think recent layoffs are likely to put upward pressure on EBIT ests. OAI backdrop more favorable vs.

3 months ago, GPU pricing, capex efficiencies, lots to like. PT to $300.”

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