Oracle stock rises ahead of Investor Day on AI optimism

Oracle Corporation stock climbed in morning trading on Tuesday, reaching $130.07, as investors prepared for the company's Investor Day scheduled for October 28 at Oracle AI World in Las Vegas.

Bernstein SocGen Group maintained an Outperform rating and a $325 price target on Oracle on Tuesday, pointing to improved clarity around the company's AI business ahead of the financial analyst meeting. The firm expects management to revise financial targets upward due to strong growth in remaining performance obligations over the past four quarters.

Barclays reiterated its Overweight rating and a $252 price target on Monday, stating that Oracle's cloud infrastructure growth is accelerating. The firm noted that the company's $664 billion backlog, which increased roughly $209 billion year over year, supports a case for the stock to double from recent levels.

Mizuho also maintained an Outperform rating and a $320 price target ahead of the Investor Day. The firm views the event as an important opportunity for management to address investor concerns around capital intensity and the path to positive free cash flow.

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