4 big analyst picks: Oracle poised for 'solid' multiyear growth, per Barclays
By Davit Kirakosyan
Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Oracle, Lowe's, NetApp, and Stryker.
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Oracle (NYSE:ORCL) shares gained 2.5% Tuesday after Barclays upgraded the company to Overweight from Equal Weight and raised its price target to $150 from $126, as reported in real-time on InvestingPro.
Barclays believes Oracle has multiyear potential for strong growth with high margins as its SaaS and OCI sectors outweigh the lower growth parts of the business. The analysts wrote that the mix effect “should continue to help growth for years to come.”
The analysts also see an opportunity for its cloud operations in the AI space, particularly due to the company’s close ties with Nvidia (NASDAQ:NVDA) and its early adoption of Nvidia's SaaS products.
The company is set to report its Q1/24 earnings on Sept 14.
Bernstein upgraded Lowe’s (NYSE:LOW) to Outperform from Market Perform on Tuesday and raised its price target to $282 from $252.
The firm now sees a confluence of positive and mutually reinforcing trends for Lowe's that they expect to continue, saying:
We believe LOW will continue to deliver modest op margin expansion over the next 24 months, driven by the continued modest gross margin expansion of 5-10bps / year combined with stable to modestly improving OpEx % of sales.
Bernstein says it is comfortable with the home-improvement market outlook in the near term and that it sees a return to low-single-digit growth into 2024-2025 «as the housing market stabilizes.»
NetApp (NASDAQ:NTAP) shares gained more than 2% Tuesday after Susquehanna upgraded the company to Positive from
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