TD Cowen lowered the firm’s price target on Oracle (ORCL) to $250 from $350 and keeps a Buy rating on the shares. The firm updated its model ahead of Q3 results where they expect a strong quarter of accelerating OCI growth to roughly 80% cc versus reoughly 65% in 2Q, and they see this moving to roughly 100% in 4Q as OAI capacity continues to on-board.
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