Oracle Upgraded, Microsoft Cut, Altera Seen as Overvalued

An upgrade for Oracle, Microsoft is cut and Altera now seen as overvalued, all in Monday's Analysts' Actions. Oracle was upgraded to OUTPERFORM at RBC Capital. The firm increased price targets to $50 a share, arguing the company can show better cloud growth and improvement in its database business. RBC Capital felt less positive on Microsoft, cutting price targets to $47. The firm said a combination of weaker PC demand and foreign exchange challenges proved risky to earnings growth. Altera was hit by a downgrade to EQUAL WEIGHT at Morgan Stanley. Analysts said the stock looked overvalued after rocketing nearly 30% higher on Friday.