Mizuho Maintains Outperform on Oracle, $320 Price Target

Mizuho analyst Siti Panigrahi reiterated an Outperform rating and $320 price target on Oracle (NYSE: ORCL).

“We virtually attended today’s Doña Ana County Commission meeting, where ORCL team provided an update on Project Jupiter, highlighting continued construction progress and efforts to address power infrastructure and regulatory challenges.

Commission sought more clarification on the EPE proposal, particularly how it fits within the county’s IRB and community benefits agreement.

Separately, today ORCL renewed its request for expedited FERC approval of the Green Chile pipeline.

Additionally, our Mizuho Clean Energy team hosted an expert call with a former BLM New Mexico State Director, who suggests the proposed pipeline reroute could avoid restarting the environmental review, potentially limiting further delays.

(See takeaways here) While regulatory approvals remain outstanding, we remain constructive on Project Jupiter’s progress and see no impact on FY27 estimates, consistent with management’s recent commentary.

We expect further updates at ORCL’s October 28 Investor Day.”

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