Oracle wins a nearly $7 billion 10-year Pentagon software contract, expanding its defense presence and streamlining U.S. government procurement.

Oracle (ORCL) stock popped 4% in a tech rally, but remains near 52-week lows. Here is what is driving the rebound and analyst targets.

WASHINGTON, July 23 : The Pentagon announced on Thursday a nearly $7 billion, up-to-10-year agreement with Oracle to consolidate the department's on-premises software licenses…

The Enterprise Software Agreement, negotiated by the Department of the Navy, is between the Pentagon and Oracle for its on-premises compute usage.