Mizuho Reiterates Oracle (ORCL) “Outperform,” Sets $350 Target Ahead of Analyst Day

Oracle Corporation (NYSE:ORCL) is one of the AI Stocks Shaping Wall Street’s Next Big Rally. On October 6, Mizuho reiterated the stock as “Outperform” with a price target of $350. The firm believes shares of Oracle have more room to run ahead of its financial analyst day on October 16th.

“We remain bullish on ORCL heading into the Financial Analyst Day, viewing it as a key catalyst to refocus attention on Oracle’s long-term AI growth story.”

The firm holds a positive outlook on the stock, particularly around Oracle’s long-term artificial intelligence growth story. It believes that the upcoming analyst day would be a key catalyst to refocus investor attention on the said narrative despite the stock’s recent pullback.

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Oracle’s newly appointed co-CEOs are anticipated to showcase a unified strategy across Oracle Cloud Infrastructure (OCI) and applications. This will in turn reinforce its position as a full-stack platform for enterprise AI adoption.

Mizuho also believes that Oracle’s management will increase its long term financial targets and detail a funding plan for AI data center expansion. This is likely to be supported by record remaining performance obligations and burgeoning demand from customers including OpenAI, Meta, and xAI.

Oracle Corporation (NYSE:ORCL) is a database management and cloud service provider.

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Disclosure: None.

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