Guggenheim Reiterates Buy on Oracle, $400 Price Target
Guggenheim analyst John DiFucci reiterated a Buy rating and $400 price target on Oracle (NYSE: ORCL).
“In our view, the $20B ATM equity raise has been the primary overhang on ORCL shares since the F4Q print, surpassing OpenAI concentration concerns.
With the company having issued no equity in F4Q26, we believe investors want to see material progress this quarter, and completing most, if not all, of the raise would be positively received near term.
That said, another equity raise could be on the horizon given ORCL’s plan to raise $40B in FY27 (including the $20B Equity ATM) with no further capital raises planned for CY26.
While most assumed the $20B balance would be debt raised in the first half of CY27, our recent conversations with rating agencies lead us to believe equity would likely have to be a component to keep debt investors happy.”
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