Oracle Shares Tumble 10% as BNP Paribas Expects $80-100B Capex Spending Surge

According to BNP Paribas, Oracle (ORCL) shares fell more than 10% on Friday (June 5) amid a broader market sell-off, as analyst Stefan Slowinski expects the company to increase capital spending to between $80 billion and $100 billion for Project Stargate data centers and Nvidia chip acquisitions. The analyst set a price target of $283, implying nearly 20% upside. Among 43 analysts covering the stock, 36 rate ORCL as 'Buy' or higher, six as 'Hold,' and one as 'Sell.' For Q4, analysts project revenue of $19.1 billion and adjusted EPS of $1.96.
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