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Why Oracle Stock Bumped Higher on Wednesday

TheMotleyFool

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Why Oracle Stock Bumped Higher on Wednesday: https://g.foolcdn.com/editorial/images/857960/person-reacting-joyfully-to-something-on-a-smartphone.jpg

It wasn't a huge price surge, but investors will take it. On Wednesday, Oracle's (NYSE: O) stock got a little bit of a bounce, rising in excess of 1% thanks in no small part to an analyst's recommendation upgrade. That rise, modest as it was, beat the 0.8% increase of the bellwether S 500 index.

The person behind the move was Oppenheimer prognosticator Brian Schwartz. Well before Wednesday's market open, he lifted Oracle stock one notch to outperform (i.e., buy) from his preceding evaluation of perform (hold). His price target on the storied tech company is now $185 per share.

Image source: Getty Images.

Source Fool.com