Oracle Corp (NYSE:ORCL) shares are climbing Wednesday. Citigroup argued the stock could more than double from current levels, pointing to a reset in investor expectations following a sharp summer sell-off. Here’s what you should know.
Oracle stock is gaining positive traction. What’s pushing ORCL stock higher?
Citigroup Sees Massive Upside For Oracle Stock
Citigroup analyst Tyler Radke on Wednesday stuck with his Buy call on Oracle while setting a $330 price target, suggesting the stock could more than double from current levels. Radke described the stock’s recent slide as one of the most severe stretches of selling the company has endured, blaming a mix of panicked investors and mechanical selling pressure tied to credit markets and Oracle’s ongoing at-the-market stock sales, CNBC reported.
Radke argued the stock has significant room to recover as AI demand stays healthy and pricing data from neocloud providers gives analysts reason to raise estimates before Oracle’s late-October earnings call and investor day.
