Barclays raised the firm’s price target on Oracle (ORCL) to $240 from $230 and keeps an Overweight rating on the shares following the fiscal Q3 report. Barclays sees the shares “starting to work better from here,” saying the Q3 print addressed several investors concerns around capital expenditures, the gross margin profile of contracts and Oracle’s ability to deliver capacity on time. In addition, other parts of the business, like software-as-a-service and maintenance, are performing well, creating “plenty of upside” from current share levels, the analyst tells investors in a research note.
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