Oracle stock slides 4% today despite UK Defence cloud pact; KeyBanc flags ORCL as “undervalued”
Oracle shares fell 4.1% to $194.09 by late morning Wednesday, despite announcing a cloud migration deal with the UK Ministry of Defence. The company’s stock had peaked at $202.44 earlier in the session. KeyBanc reaffirmed its Overweight rating and $300 price target. Financial terms of the UK deal were not disclosed.