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Bernstein tech analyst calls Oracle his top investment idea

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Stock Markets,Oracle Corp,Business News

The Wall Street firm's price target on Oracle implies more upside ahead for the name.

Seeing more upside ahead, Bernstein has named Oracle a "top investment idea" for investors seeking to play the cloud trade. With an outperform rating on the stock, the firm has a price target of $175, which implies more than 11% upside from Wednesday's close. Bernstein's call comes after the stock has already seen major gains this week. On Tuesday, Oracle jumped more than 11% following better-than-expected first-quarter earnings , putting its shares at a 49% gain year to date.

mountain Oracle, year-to-date In a Thursday note, analyst Mark Moerdler cited Oracle's customer mix and the quality of its workloads — both of which offer downside protection — as key to the call.

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