JPMorgan upgrades Oracle on better risk/reward post selloff

JPMorgan upgraded Oracle (ORCL) to Overweight from Neutral with a price target of $210, down from $230, following the fiscal Q3 report. The stock in premarket trading is up 11%, or $16.93, to $166.33. The firm cites the 55% decline in shares since mid-September and Oracle delivering on its growth acceleration for the upgrade. Investor sentiment on Oracle has shifted from “blind faith to widespread pessimism” over the attainability of its fiscal 2030 targets, the analyst tells investors in a research note. JPMorgan sees an improved risk/reward against the backdrop of the investor pessimism.

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