Citigroup has increased Oracle's (ORCL, Financial) price target from $160 to $186, while maintaining a "neutral" rating on the stock. Ahead of Oracle's fourth-quarter earnings report, Citigroup expressed increased confidence in the company's fundamentals but noted potential risks to short-term earnings expectations.
In a research note, analysts highlighted that Citigroup's quarterly distributor survey showed an improvement in sales quota achievement, although this was offset by sluggish growth. The analysts suggested that a stronger confidence in Oracle's cloud profitability and progress in database modernization could result in a more positive outlook on the stock.
