Oracle upgraded to Buy from Neutral at UBS

UBS upgraded Oracle to Buy from Neutral with a price target of $140, up from $120. The analyst is are increasingly confident that Oracle “has carved out an under-appreciated edge” in terms of its GPU capacity as well as its cloud architecture, enough to attract new customers and drive cloud usage. Even with the stock already up 42% year-to-date, GPU supply constraints could be enough to drive outsized performance in Oracle shares, the analyst tells investors in a research note. UBS says its independent checks corroborated the notion that Oracle is benefiting from outsized allocations of Nvidia GPUs relative to its size.