Oracle Shares Gained As Wells Fargo Initiated Coverage With An Overweight Rating And A $280 Price Target, Suggesting A 37% Upside

Oracle has found itself in the line of fire as investors sound the alarm over its massive borrowing -- and as broader concerns about artificial-intelligence spending rock the market.At least the AI infrastructure provider has Wells Fargo in its corner. In a research note Wednesday, analyst Michael Turrin initiated coverage on Oracle at Overweight with a $280 price target.Turrin's price target suggests the stock could rise 37% from Wednesday's levels, as Oracle traded 1.3% higher to $203.73.Oracle is undoubtedly under pressure, but Turrin says the cloud computing giant is set to emerge as a "clear market share gainer in infrastructure." He expects Oracle's Cloud Infrastructure segment to capture roughly 16% of market share by 2029, up from 5% this year.Concerns about Oracle's credit risk erupted in October as investors questioned how the company would finance its capex needs without sufficient cash flow generation to cover them. The company issued $18 billion of bonds in September, addi
Oracle Shares Gained As Wells Fargo Initiated Coverage With An Overweight Rating And A $280 Price Target, Suggesting A 37% Upside

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