Stock Market News

Oracle lifted at Wolfe Research on AI tailwinds

2023.06.12 08:28


Oracle (ORCL) lifted at Wolfe Research on AI tailwinds

Oracle (NYSE:) shares were upgraded to Outperform from Peer Perform at Wolfe Research on Monday, with analysts assigning the stock a $130 price target.

The analysts told investors the firm is upgrading the stock based on accelerating top-line and bottom-line growth due to the OCI adoption and AI tailwinds.

“Our entire call is based on increased confidence and conviction that OCI will become the engine that accelerates top and bottom line growth for the company over the next three years,” they said.

“Driven by architectural cost advantages, intelligent partnerships, and an early mover advantage in GenAI, we see OCI doubling market share (2% to 5%) by CY25.”

The analysts also stated that the reason they are upgrading the stock before earnings is not because they are making a call on the quarter but because they see the potential for a solid 4Q report coupled with AI narrative tailwinds to drive a narrative re-rating.

Elsewhere on Monday, Evercore ISI analysts maintained an In-Line rating on Oracle, raising the firm’s price target on the stock to $110 per share.

They said the firm is “expecting strong F4Q results and positive commentary around cloud businesses” from Oracle.

 

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 83,570.39 0.88%
ethereum
Ethereum (ETH) $ 1,902.03 1.30%
tether
Tether (USDT) $ 1.00 0.02%
xrp
XRP (XRP) $ 2.34 1.85%
bnb
BNB (BNB) $ 629.28 3.86%
solana
Solana (SOL) $ 129.35 4.03%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.722891 2.25%
dogecoin
Dogecoin (DOGE) $ 0.172894 1.68%
tron
TRON (TRX) $ 0.213284 2.81%
staked-ether
Lido Staked Ether (STETH) $ 1,900.55 1.32%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 83,427.35 0.86%
pi-network
Pi Network (PI) $ 1.40 6.24%
leo-token
LEO Token (LEO) $ 9.81 0.63%
chainlink
Chainlink (LINK) $ 13.75 2.84%
the-open-network
Toncoin (TON) $ 3.44 1.14%
stellar
Stellar (XLM) $ 0.272129 0.38%
usds
USDS (USDS) $ 1.00 0.00%
hedera-hashgraph
Hedera (HBAR) $ 0.193408 0.36%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,274.27 1.39%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.01%
avalanche-2
Avalanche (AVAX) $ 18.58 4.13%
sui
Sui (SUI) $ 2.30 1.78%
litecoin
Litecoin (LTC) $ 92.52 0.34%
mantra-dao
MANTRA (OM) $ 6.88 3.75%
polkadot
Polkadot (DOT) $ 4.39 1.59%
bitcoin-cash
Bitcoin Cash (BCH) $ 333.61 1.65%
ethena-usde
Ethena USDe (USDE) $ 0.999701 0.03%
weth
WETH (WETH) $ 1,901.59 1.32%
bitget-token
Bitget Token (BGB) $ 4.42 1.23%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999098 0.11%
hyperliquid
Hyperliquid (HYPE) $ 13.60 1.66%
whitebit
WhiteBIT Coin (WBT) $ 28.40 1.51%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,020.34 1.31%
monero
Monero (XMR) $ 209.75 1.08%
uniswap
Uniswap (UNI) $ 6.19 1.41%
susds
sUSDS (SUSDS) $ 1.04 0.06%
aptos
Aptos (APT) $ 5.36 0.42%
dai
Dai (DAI) $ 0.999867 0.00%
near
NEAR Protocol (NEAR) $ 2.55 3.90%
okb
OKB (OKB) $ 49.65 6.56%
pepe
Pepe (PEPE) $ 0.000007 3.56%
mantle
Mantle (MNT) $ 0.829291 4.30%
internet-computer
Internet Computer (ICP) $ 5.71 2.21%
ethereum-classic
Ethereum Classic (ETC) $ 17.80 0.90%
gatechain-token
Gate (GT) $ 21.88 0.52%
ondo-finance
Ondo (ONDO) $ 0.845576 2.88%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,565.39 0.88%
aave
Aave (AAVE) $ 168.40 2.89%
tokenize-xchange
Tokenize Xchange (TKX) $ 30.01 0.11%