Why Wall Street Analysts Say the Record Run for Oracle Stock is Just Getting Started
Key Takeaways
- Oracle shares jumped 36% on Wednesday to a record high after the cloud computing giant reported a massive increase in its backlog of business amid booming demand for AI infrastructure.
- Analysts at Deutsche Bank, Bank of America, Citi and Jefferies raised their price targets on the stock, pointing to Oracle’s competitive advantage in the AI race.
- Investors will be looking for more details from the company next month at its AI event, where the company plans to unveil a new AI service.
Oracle’s (ORCL) blistering stock gain amid strong AI demand has Wall Street analysts racing to raise their price targets—with most expecting its record run isn’t over yet.
The shares soared 36% on Wednesday to a record high of about…
