** Shares of cloud application software companies Oracle ORCL.N up ~2%, Microsoft MSFT.O down 0.13% and Workday WDAY.O fall 1.7% in premarket
** Piper Sandler upgrades ORCL to "overweight" from "neutral", citing rising enterprise demand that could boost growth beyond its OpenAI-Stargate opportunity of about $30 bln annually
** Downgrades WDAY to "underweight" from "neutral", citing growing concerns over client workforce reductions due to AI, pricing risks and weakening demand for enterprise applications
** Brokerages also raise PT on ORCL to $270 from $190 and MSFT to $600 from $475; cut WDAY PT to $235 from $255
** Piper Sandler says MSFT's Azure spending intentions surpassed 80% for the first time, retaining the top role as the cloud and AI infrastructure platform of choice
** As of last close, ORCL and MSFT up ~41.5% and ~19.4% respectively, and WDAY down ~7% YTD
(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com))
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