Evercore ISI raised the firm’s price target on Oracle (ORCL) to $270 from $215 and keeps an Outperform rating on the shares. The company’s outlook for fiscal 2026 came in more upbeat than expected, and the recent filing highlighting a $30B annual contract helps solidify Oracle’s spot as the fourth global hyperscaler, the analyst tells investors in a research note. Additionally, the applications business continues to grow at a solid double-digit pace, with potential upside as headwinds from Data Cloud and Cerner ease, while Oracle’s large base of database maintenance customers is starting to migrate to the cloud. Not many other mega-cap tech names are showing this kind of revenue acceleration at scale, the firm argues.
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