Why Oracle Stock Blasted Higher on Tuesday
An analyst's recommendation upgrade was the motor that drove (NYSE: ORCL) stock higher on Tuesday. Shares of the veteran database software specialist and cloud services provider closed the day a bit over 2% in the black, contrasting favorably with the 0.4% decline of the S 500 index.
Barclays prognosticator Raimo Lenschow is now officially an Oracle bull. Before market open on Tuesday he upped his recommendation on the tech stock to overweight (read: buy); previously he had tagged it as equal weight (hold). Accompanying this was a price target rise, to $150 per share from the preceding $126.
Like other analysts, Lenschow feels there is quite a bit of potential in Oracle's relatively recent next-generation services.
Source Fool.com
Oracle Corp. Stock
€124.32
-0.140%
With 40 Buy predictions and not a single Sell prediction Oracle Corp. is an absolute favorite of our community.
As a result the target price of 139 € shows a slightly positive potential of 11.81% compared to the current price of 124.32 € for Oracle Corp..
