Orcale Stock Upgraded on AI Tailwinds

<p><strong>Oracle Corp (NYSE:ORCL)</strong> is up 2.1% before the bell, after Barclays upgraded the software stock to "overweight" from "equal weight. Like another <strong><a href="https://www.schaeffersresearch.com/content/news/2023/08/29/oracle-stock-upgraded-on-ai-tailwinds" target="_blank">Wall Street firm</a></strong> said, Barclays believe Oracle could see tailwinds from the artificial intelligence (AI) boom.&nbsp;</p>
<p>The analyst also hiked its price target to $150 from $126, the former a 24% upside to Friday’s close. While 10 covering brokerages rate ORCL a "strong buy," 13 say "hold," leaving room for additional bull notes to roll in.&nbsp; &nbsp;</p>
<p>Already boasting a 48% lead in 2023, Oracle stock is up nearly 61% year over year as investors have taken an increased interest in <strong><a href="https://www.schaeffersresearch.com/content/bgs/2023/08/18/semiconductor-sector-at-a-critical-crossroads" target="_blank">AI-adjacent equities</a></strong>. Today’s premarket lead has the shares on track to topple the $123 level for the first time since mid-June, putting them within a chip-shot of their <strong><a href="https://www.schaeffersresearch.com/content/news/2023/06/12/software-stock-hits-record-high-ahead-of-earnings" target="_blank">June 15 record peak</a></strong> of $127.54</p>

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