Top Analyst Upgrades Oracle Stock (ORCL) and Raises Price Target on Cloud Momentum
Brad Reback, a top analyst from Stifel, upgraded Oracle (ORCL) stock to Buy from Hold, citing optimism about the momentum in the company’s cloud business. The 5-star analyst significantly increased the price target for ORCL stock to $250 from $180, indicating about a 19% upside potential. Earlier this month, the cloud computing and database software company reported upbeat earnings for its fiscal fourth quarter, indicating that growth in its cloud business will accelerate.
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Top Stifel Analyst Turns Bullish on ORCL Stock
Reback stated that the recent notable increase in Oracle’s capital expenditure and remaining performance obligations (RPO) gains reinforce management’s cloud…
