Deutsche Bank analyst Brad Zelnick lowered the firm’s price target on Oracle (ORCL) to $300 from $375 and keeps a Buy rating on the shares. The firm says the company’s successful unsecured investment grade bond offering in February or news of customer OpenAI closing $110B of private funding round have provided relief in Oracle shares, which remain 50% below their September peak. Deutsche believes “trust and patience” is required amid concerns of significant cash burn to fund Oracle’s AI build out.
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