With just one week remaining until Oracle (NYSE: ORCL) releases its earnings on June 10, UBS Group on Monday increased its price target for the company from $250 to $285, while maintaining a Buy rating.

UBS analyst Karl Keirstead stated that after surveying major customers, partners, and contractors for the Abilene, Texas AI data center project, no signs of a slowdown in the company's cloud and AI business growth were found.

This price target adjustment comes as Oracle shares have experienced significant recent volatility. The stock surged approximately 9.9% in a single day on June 1 to nearly $248, but pulled back with the broader market on Wednesday, closing down at $244.80.

Beyond UBS, Scotiabank also raised its target price from $215 to $290, maintaining an Outperform rating.

Analyst focus for the upcoming report is centered on the cloud infrastructure business. In the third fiscal quarter, Oracle reported revenue of $17.2 billion, a 22% year-over-year increase, with adjusted earnings per share of $1.79, both exceeding expectations.

The most notable figure was the remaining performance obligation of $553 billion, which grew 325% year-over-year, with the majority attributed to large-scale AI contracts.

Market consensus anticipates fourth-quarter revenue of approximately $19.1 billion, with adjusted earnings per share around $1.95 to $1.96.

Management's prior guidance indicated that fourth-quarter cloud revenue is expected to grow between 46% and 50%.

Chairman Larry Ellison previously outlined an ambitious cloud infrastructure revenue roadmap, aiming for growth from $18 billion in fiscal 2026 to $144 billion by fiscal 2030.

Currently, the consensus analyst rating for Oracle is Strong Buy, with 28 analysts recommending Buy, 5 recommending Hold, and an average price target of approximately $259, give or take $5.