The firm estimates Oracle shares have 24% upside potential, continuing its strong growth story over the past year.
Want to invest around artificial intelligence? Take a look at Oracle , according to Barclays. Oracle shares have surged nearly 48% in 2023 and close to 62% over the past 12 months. And Barclays thinks the company is set to maintain high levels of growth in the near future as its tailwinds have yet to fully take effect. Analyst Raimo Lenschow upgraded shares to overweight from equal weight. He also raised his price target to $150 from $126, suggesting 24% upside from Friday's close.
mountain ORCL in 2023 "We see a multi-year opportunity for solid growth at high margins driven by an ongoing positive mix effect of better [software-as-a-service] and [Oracle Cloud Infrastructure] I outweigh the lower growth parts of the business," Lenschow wrote in a Tuesday note. "OCI, partly fueled by emerging AI workloads, will be key to the database and overall story." He added that OCI is well-positioned for an AI tailwind due to its close relationship with Nvidia.
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