Oracle announced an expanded agreement with the UK Ministry of Defence (MoD), deepening their strategic relationship. The new deal enables the MoD to migrate legacy technology systems to Oracle Cloud Infrastructure (OCI).
This modernization effort aims to improve operational efficiency, enhance security, and support the adoption of new artificial intelligence tools.
The announcement coincided with positive sentiment from Wall Street. KeyBanc Capital Markets reiterated its Overweight rating on Oracle stock and maintained a $300 price target, labeling the stock as "undervalued."
The analyst highlighted significant growth potential, citing potential upside in Oracle’s core business and its infrastructure-as-a-service segment.