Why Oracle Stock Bounced Higher on Thursday
Investors gazing into their crystal balls this morning would have seen (NYSE: ORCL) stock rising by almost 3% across Thursday's trading session. The busy database specialist held a meeting with financial analysts that morning in which it discussed a host of news items, and clearly those prognosticators liked what they heard. One went so far as to publish a fresh research note on the company reiterating his bullish stance.
That analyst was Bernstein SocGen Group's Mark Moerdler, who wrote that he attended the event and participated in discussions with management and employees. Subsequent to it, he reiterated his outperform (i.e., buy) recommendation on Oracle, at a price target of $175 per share. That figure is 8% above its most recent closing price on the market.
The bullish Moerdler is particularly impressed with Oracle's zeal to keep developing its business, especially in the infrastructure-as-a-service (IaaS) and platform-as-a-service cloud computing segments.
Source Fool.com
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