Jefferies Analyst: Oracle is down 50% but is in a ‘better place’ as it continues to grow.

oracle (NYSE:ORCL) has had a brutal run since its moment in the AI ​​spotlight. But Jefferies analyst Brent Thill isn’t running away. He just reiterated his Buy rating on the stock, and while he lowered his price target, his core thesis is actually getting stronger.

Here’s the tension worth understanding: The stock has fallen sharply, the fundamentals are accelerating, and almost no one on Wall Street is paying attention.

The setup

Thill lowered his price target to $320 from $400, but that’s not the headline number. In the headline he describes where Oracle currently stands. “The stock is down 50% since the OpenAI transaction was announced. And we believe Oracle is ultimately in a better, better place. It’s one of the few accelerating growth stories in our sector.”

That’s a remarkable claim when you look at price trends. At the time of filing its first quarter fiscal 2025 filing in September 2025, Oracle reached $308.70 and is trading at approximately $158.81 as of March 6, 2026. The stock has fallen…