Barclays analyst Raimo Lenschow raised the firm’s price target on Oracle (ORCL) to $347 from $281 and keeps an Overweight rating on the shares. The fiscal Q1 report did not matter as the large artificial intelligence contracts signed this quarter fundamentally change Oracle’s trajectory in the years to come, the analyst tells investors in a research note. Barclays continue to see the company as an “AI winner.”
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ORCL:
- Oracle’s Stock Rally Lifts Larry Ellison’s Net Worth Up by $100B in One Day
- Oracle’s Cloud Growth and Strategic Transition: A Path to Surpassing Google Cloud Platform
- Oracle’s Earnings Call Highlights Cloud Growth and AI Leadership
- Oracle (ORCL) Inks Massive $300B Cloud Deal with OpenAI
- AI Daily: Oracle jumps following earnings on AI cloud gains