Jefferies boosting Oracle's (ORCL, Financial) price target to $270 while keeping their Buy rating—thanks to a string of “mega deals” that are supercharging its cloud business.
Word is there's a jaw-dropping $30 billion-a-year contract kicking in by FY 2028—enough to cover about two-thirds of Oracle's IaaS revenue estimate and a third of total sales.
Couple that with over 100% growth in its backlog (aka RPO), and it's clear why analysts feel more confident.On top of that, Oracle is leasing 4.5 GW of data-center power to OpenAI, cementing its spot in the AI infrastructure race.
All told, these high-visibility deals make hitting that $104 billion 2029 revenue goal look a lot less risky—and set the stage for possible upward tweaks at next month's CloudWorld event.
