ORCL Stock Jumps After Analyst Says Market Undervalues Its OpenAI Partnership
Synopsis
Deutsche Bank maintained a ‘Buy’ rating on Oracle and a $375 price target, according to TheFly.
Oracle (ORCL) was the second-most trending ticker on Stocktwits, with the company’s shares rising nearly 2% before the bell after Deutsche Bank noted that the recent pullback in the stock offers an attractive entry point.
The shares, at current levels, give Oracle little, if any, credit for its business with OpenAI, a Deutsche Bank analyst said. The firm noted that while the deal brings financial and operational risks, these are offset by the "very real opportunity" that OpenAI offers.
Deutsche Bank maintained a ‘Buy’ rating on Oracle and a $375 price target, according to TheFly.
OpenAI has reportedly struck an agreement with Oracle, committing to purchase $300 billion worth of computing capacity over five years to power ChatGPT and its AI initiatives.
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