Alphabet (GOOG): Maps Could Add $5 Billion In Revs - Baird
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Baird analyst, Colin Sebastian, reiterated his Outperform rating on shares of Alphabet (NASDAQ: GOOG) after attending a Google event for local businesses that provided an overview of the next generation of Google Maps.
The analyst believes that Maps is one of the company’s most valuable assets and demonstrates strong product and engineering skills. The analyst stated "we estimate Maps will grow into a $5 billion incremental revenue business over the next 3-4 years, contributing as much as one-third of the company’s advertising growth by 2020".
No change to the price target of $930.
Shares of Alphabet closed at $762.02 yesterday.
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