Forecasted OCI Growth and AI Acceleration Drive Oracle Stock Upgrade, Analyst Predicts Market Share Doubling by 2025
Portfolio Pulse from Lekha Gupta
Wolfe Research analyst Ryan Krieger upgraded Oracle Corp (NYSE:ORCL) to Outperform from Peer Perform with a price target of $130, citing strong growth in Oracle Cloud Infrastructure (OCI) adoption and AI acceleration. Krieger expects OCI revenues to grow significantly and Oracle's market share to double by 2025. Evercore ISI Group also increased Oracle's price target to $110 from $95.
June 12, 2023 | 4:02 pm
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Oracle's stock upgraded to Outperform by Wolfe Research due to strong OCI growth and AI acceleration, with a price target of $130. Evercore ISI Group also raised the price target to $110.
The upgrade by Wolfe Research and the increased price target by Evercore ISI Group indicate a positive outlook for Oracle's stock. The strong growth in OCI adoption and AI acceleration are expected to drive the company's revenues and market share, leading to a potential increase in stock price in the short term.
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