Oracle’s recent stock price decline presents an appealing buying opportunity, according to Evercore analysts, who upgraded their rating on the cloud service provider’s shares on Monday.
Barron’s reported that Evercore’s Kirk Materne and his team have shifted their rating on Oracle (NYSE:ORCL) stock from ‘In Line’ to ‘Outperform’. The team also increased their price target from $131 to $135, suggesting a 23% upside from Friday’s closing price of $109.96.
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