Oracle upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst Brent Bracelin upgraded Oracle to Overweight from Neutral with a price target of $104, up from $85. The company’s "model diversification narrative is just beginning" with only 11% of its 430,000 customer base adopting Oracle Cloud, Bracelin tells investors in a research note. The analyst sees room for both earnings and multiple expansion as Oracle’s acceleration to double-digit earnings growth materializes.