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.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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