Oracle (ORCL) Gets Fresh Boost From Optimism Around OpenAI Exposure

Oracle Corporation (NYSE:ORCL) is one of the 10 Trending AI Stocks According to Analysts. Oracle received a fresh boost from Wall Street after DA Davidson upgraded the stock based on expectations of stronger deal momentum. On February 9, analyst Gil Luria went from Neutral to “Buy” with a price target of $180.00. The firm sees revamped OpenAI as key to removing ORCL’s top overhang, noting that it is better positioned to capitalize on AI deals.

According to the firm, the biggest overhang on the company, which is its exposure to OpenAI, is now easing. A revamped OpenAI, it noted, will return to its position as Google’s top challenger. It further added that with fresh capital it should be able to “live up to its obligations this year, including to Oracle.”

The firm believes that this will remove the biggest concern from Oracle, which is why it has upgraded shares to Buy from Neutral.

Oracle Corporation (NYSE:ORCL) is a database management and cloud services provider.

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Disclosure: None. This article is originally published at Insider Monkey.