Oracle initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Oracle (ORCL) with an Overweight rating and $280 price target The firm believes Oracle will emerge as the leader in the artificial intelligence “super-cycle.” The company has booked nearly half a trillion dollars of AI deals and is in the “pole position” with key accounts like OpenAI, xAI, Meta and TikTok, the analyst tells investors in a research note. Wells points out the stock is down 42% from its highs.