Bernstein raised the firm’s price target on Oracle (ORCL) to $363 from $308 and keeps an Outperform rating on the shares following the fiscal Q1 report. The company reported an “exceptional growth trajectory” for its cloud business over the next five years, the analyst tells investors in a research note. The firm says Oracle’s guidance for the next five years beat even its bullish estimates. Given the guidance, the quarterly results were mostly inconsequential, contends Bernstein.
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