Alphabet (GOOGL) (GOOG) PT Lifted to $1000 at Oppenheimer
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Oppenheimer analyst Jason Helfstein reiterated an Outperform rating and lifted its price target on Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) to $1,000.00 (from $970.00) following results after the close.
Helfstein commented, "Following strong 3Q results, we are maintaining our Outperform rating and increasing our target from $970 to $1000. GOOG continues to benefit from the same trends: demand for mobile clicks driven by improved ad formats, YouTube ads and shift to programmatic (Double-Click). Google Cloud is now the fastest growing unit, and we expect increased investor focus in 2017. Meanwhile, we see no material signs of share loss to FB, with GOOG gaining from YHOO/MSFT and other search players. Our sum-of-the parts target assumes 13x ‘17E core-Search EBITDA and $67B for YouTube."
Shares of Alphabet closed at $795.35 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
- Jefferies Cuts Price Target on Workday (WDAY) to $71 Following 3Q
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!