Shares of Oracle (ORCL) - Get Oracle Corporation Report opened higher on Tuesday after Credit Suisse initiated stock coverage of the computer software company with an "Outperform" rating and a $62 price target.
Oracle is underappreciated given its technology stack and its strong upside potential within the cloud computing space, Credit Suisse analyst Brad Zelnick noted.
The software company remains Credit Suisse's top pick as it concerns aggregation and its ability to leverage its dominant market position to seize wallet share.
Additionally, the stock is valued "as if there's no tomorrow" and Zelnick is bullish on the value being created by Oracle's development.
Shares of Oracle are higher over 31% year-to-date.
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