Major Bank Ratings | Citi: Raises Oracle's target price to $320, reiterates "Buy" rating

格隆汇2026/03/16 03:04

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格隆汇 March 16｜Citigroup released a report, raising Oracle's target price from $310 to $320, based on a forecast of 23 times earnings per share for fiscal year 2029. This is based on Oracle's fourth quarter guidance meeting expectations, and the fiscal year 2027 revenue forecast being raised by $7 billions to approximately $90 billions. The bank reiterated its "Buy" rating on the stock. Citigroup pointed out that Oracle's performance in the third fiscal quarter ending in late February was solid, effectively dispelling ongoing market concerns about financing and data center delays. Infrastructure as a Service (IaaS) revenue accelerated during the quarter, remaining performance obligations (RPO) increased by about $20 billions quarter-on-quarter, and contract terms crucially required no additional financing. The bank also noted that despite recent media reports of data center project delays, Oracle still delivered 400 megawatts of computing power on schedule during the quarter, with 90% completed ahead of or on time, providing momentum for accelerated growth in IaaS revenue. The company expects to deliver 10 gigawatts of capacity over the next three years. Citigroup continues to forecast Oracle's annual compound growth rate for revenue and earnings per share over the next four years to be 35% and 29% respectively, and expects this to generate substantial returns for the company.

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Latest Update October 8 – Pacira BioSciences (PCRX.O) shares surged by 44%, hitting a more than three-year high at $36.30. If the rally holds, PCRX is poised for its largest single-day gain on record. Pharmaceutical company Viatris (VTRS.O) will acquire Pacira BioSciences in a $1.65 billion cash deal, offering $36.50 per share. The offer represents a premium of approximately 44.8% over Pacira’s recent closing price of $25.20. The transaction will add Pacira’s non-opioid pain medications Exparel and Zilretta to Viatris' product portfolio. Viatris shares fell 2.6% to $17.04. JPMorgan stated: “We believe this acquisition will not significantly alter VTRS' overall financial profile in the short or long term, and expect Exparel’s sales to gradually decline post-2030 due to generic market entry.” Both parties expect to complete the transaction by the end of 2026. Including intraday fluctuations, PCRX shares have risen 40.2% year-to-date, while VTRS has gained 36.8%. (For the convenience of non-English speakers, Reuters provides automated translations of its reports into several other languages. As automated translation may contain errors or lack the necessary context, Reuters does not guarantee the accuracy of automated translated texts and provides them for readers’ convenience only. Reuters assumes no liability for any damage or losses resulting from the use of automated translation.)

路透社•2026/10/08 16:11