DA Davidson upgraded Oracle’s stock rating from Neutral to Buy, maintaining a $180 price target, due to expectations that a revitalized OpenAI will regain its position as Google’s primary AI challenger. The firm believes fresh capital will enable OpenAI to fulfill its commitments to Oracle, addressing a major concern for Oracle’s business outlook. This upgrade comes amidst other significant financial moves by Oracle, including a $20 billion stock offering and a $25 billion debt issuance, which have led other firms to revise their price targets.
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DA Davidson upgrades Oracle stock rating to Buy on OpenAI outlook
DA Davidson upgraded Oracle’s stock rating from Neutral to Buy, maintaining a $180 price target, due to expectations that a revitalized OpenAI will regain its position as Google’s primary AI challenger. The firm believes fresh capital will enable OpenAI to fulfill its commitments to Oracle, addressing a major concern for Oracle’s business outlook. This upgrade comes amidst other significant financial moves by Oracle, including a $20 billion stock offering and a $25 billion debt issuance, which have led other firms to revise their price targets.