Analyst Karl Keirstead upgraded the database management company to buy from neutral and raised his price target by $20 to $140.
The firm's new forecast suggests a 19.8% upside from Monday's close. "We are increasingly confident that Oracle has carved out an under-appreciated edge in terms of its GPU capacity as well as its [Oracle Cloud Infrastructure] architecture, enough to attract new customers and drive OCI usage," Keirstad wrote in a Monday note. "We believe GPU supply constraints could be enough to drive outsized performance in Oracle shares.
" Oracle could have an edge in GPU speed-to-deployment, he said, adding that its core database business could also get a lift from increases in cloud migration activity and/or quietly benefit from AI. The "crux" of the firm's increased confidence in the stock is its constructive view of Oracle's cloud infrastructure segment, which accounts for 10% of the company's overall revenue and 30% of its year-on-year revenue growth in its recent quarter.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Joann's stock rallies 20% as early Halloween, dorm décor offerings lift retailer's quarterJoann Inc. shares jumped nearly 20% after hours Monday after the arts-and-crafts retailer said that offering Halloween products earlier this year has lifted...
Read more »
3 US Marines dead, 20 wounded in aircraft crash in AustraliaThe aircraft went down during routine training exercises.
Read more »
3 US Marines killed, 20 injured in an aircraft crash in Australia during a training exerciseThree U.S. Marines were killed and 20 others were injured when their MV-22B Osprey tilt-rotor plane crashed off the coast of Australia during a routine training drill, the Marine Corps announced Sunday.
Read more »
See all homes sold in these New Jersey counties, Aug. 14 to Aug. 20Real estate transfers in New Jersey counties reported from Aug. 14 to Aug. 20, 2023.
Read more »
3 U.S. Marines killed, 20 injured when aircraft crashes in Australia during exerciseA statement says three had been confirmed dead on Melville Island on Sunday and five of the 23 on board were flown in serious condition 50 miles to the mainland city of Darwin for treatment after the V-22 Osprey aircraft crashed
Read more »
3 US Marines killed, 20 injured in Osprey crash in Australia during training exerciseA United States Marine Corps aircraft carrying troops crashed on a north Australian island Sunday, killing three Marines and injuring 20 during a multination training exercise, officials said.
Read more »