Oracle (ORCL) traded down 0.91% to $193.93, underperforming the broader market despite Jefferies reiterating a Buy rating and setting a $400 price target.
- Jefferies cited the potential for AI data center expansion and the conversion of its substantial $523B backlog as key drivers for the positive outlook.
- The stock initially gained 0.5% but reversed course, trading lower despite a strong day for the S&P 500 (+0.75%) and the Dow (+1.52%).