11 December 2025 | 5:01AM PST Equity Research Oracle Corp. (ORCL) Cloud Momentum Balanced Against Capital Structure and Concentration Risks ORCL 12m Price Target: $220.00 Price: $223.01 Downside: 1.3% We reiterate our Neutral rating and lower our Price Target to $220 on Oracle following F2Q results that saw Total Revenue -0.8% below Consensus, Cloud growth +33% CC (vs. Guidance +34%), GM -100 bps below, Op. Income -1.3% below, CapEx +44% above and FCF burn ~2x higher vs. Consensus. Oracle's stock had round- ...