$ORCL - DEUTSCHE BANK REITERATES BUY ON ORACLE, SAYS BEAR CASE LOOKS BULLISH Deutsche Bank reaffirmed its Buy rating and $375 price target on Oracle. Analyst Brad Zelnick says recent stock weakness and concerns about AI capacity—especially around OpenAI—are overstated. Zelnick’s analysis shows that even excluding OpenAI-related revenue, Oracle’s FY30 EPS would fall only from $21 to about $17, and free cash flow from $41B to $31B. Based on today’s ~$200 share price, he argues the market is giving Oracle little to no credit for its OpenAI business. Even after accounting for potential lease burdens tied to unused AI capacity, Oracle’s FY30 EPS would still be near $15, with FCF around $26B—levels Zelnick sees as supportive of a bullish long-term outlook.