Analysts Flip To 'Outperform' On Oracle Amid Stock Pullback: 'Math Is Working In Favor'
Portfolio Pulse from Benzinga Neuro
Evercore analysts have upgraded their rating on Oracle (NYSE:ORCL) from 'In Line' to 'Outperform' and increased their price target from $131 to $135, suggesting a 23% upside. This comes after Oracle's stock dropped 13% following Q1 results that didn't meet expectations. Despite challenges with the recently acquired Cerner healthcare software business, Evercore believes the post-results pullback offers a good entry point for investors. They expect Oracle's core cloud offering to account for half of total revenue by fiscal 2026, boosting revenue to $62.9 billion.

October 10, 2023 | 9:23 am
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Oracle's stock has been upgraded by Evercore analysts who see the recent pullback as a buying opportunity. They expect Oracle's cloud business to drive significant revenue growth.
The upgrade by Evercore analysts and the increased price target suggest a positive outlook for Oracle's stock. Despite recent challenges, the analysts believe that the company's cloud business will drive significant revenue growth, which could boost the stock price.
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