BMO Capital increased the price target on shares of Oracle Corp (ORCL) to $45.00 from $42.00 and maintained Outperform rating on the stock.

“While Oracle’s slowing growth has been the key issue on the stock, we see an improving outlook as much of the transitional work is now behind the company. Accelerating revenue growth and below-trend valuation leave us positive on the shares.” BMO Capital said

“While license revenue growth continues to be weak driven by the shift from license (down ~7% in 3Q), cloud subscription growth is becoming more meaningful (~12% of new license revenue) and momentum appears to be building on this front. Releases of Fusion8, Database 12c in-memory, and PaaS/IaaS are slated for this summer and should also be growth contributors.” it added

Shares of Oracle Corp (ORCL) were trading higher by 1.5 percent at $41.54 in early morning trade.

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