TD Cowen raised the firm’s price target on Oracle (ORCL) to $275 from $250 and keeps a Buy rating on the shares, noting that the firm’s new target is “a Street high.” Bloomberg reported that OpenAI, via Stargate, has expanded its deal with Oracle for an additional 4.5GW of U.S. data center capacity, providing greater context around the 8-K released on Monday, in which Safra Catz referenced a large deal but didn’t specify the customer. The firm contends that the news “points to some real bull case / blue sky scenarios” for revenue growth and it now believes that FY29 revenue could be about $150B, versus guidance of $104B.
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