Piper Sandler has upgraded Oracle (ORCL) to Overweight and raised its price target to $270 from $190, citing a robust AI infrastructure spending environment. The upgrade is underpinned by a CIO survey indicating a significant rise in net spending intentions for Oracle OCI to 27%, alongside the existing OpenAI/Stargate agreement, which is projected to drive triple-digit backlog growth in fiscal 2026. Consequently, the firm also increased Oracle's earnings estimates for F2026 and F2027.
Piper Sandler has issued a significant upgrade for Oracle Corp (ORCL), raising its rating to Overweight and increasing the price target to $270 from $190. This bullish revision is predicated on a strengthening outlook for AI infrastructure spending. The core evidence cited is a recent CIO survey, which revealed a sharp increase in net spending intentions for Oracle Cloud Infrastructure (OCI) to 27%, a substantial jump from 18% in the previous survey. This suggests a broadening of enterprise demand beyond the well-publicized OpenAI/Stargate agreement. The analyst, Brent Bracelin, projects this momentum will support triple-digit backlog growth for Oracle in fiscal 2026. In line with this outlook, earnings per share estimates have been revised upwards for fiscal 2026 to $6.65 and for fiscal 2027 to $8.00, signaling confidence in sustained earnings power driven by AI-related cloud services.
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