Why Oracle Stock Trounced the Market Today
Veteran database software company (NYSE: ORCL) had a prosperous Tuesday on the stock market. After its shares received a recommendation upgrade from an analyst, investors piled in to send them more than 3% higher in price. This was more than double the 1.5% gain of the S 500 index.
The upgrading party was UBS' Karl Keirstead, who changed his view on Oracle stock well before market open that day. In his opinion the company is now a buy, where previously he tagged it as a neutral. In pushing his recommendation up a peg, Keirstead also raised his price target to $140 per share from the preceding $120.
In a new research note, the analyst wrote that investors are underestimating the potential in the company's graphics processing unit (GPU) business. They also might not fully realize the strength of its Oracle Cloud Infrastructure (OCI) architecture.
Source Fool.com
Oracle Corp. Stock
The stock is an absolute favorite of our community with 41 Buy predictions and no Sell predictions.
With a target price of 140 € there is a slightly positive potential of 9.2% for Oracle Corp. compared to the current price of 128.2 €.
