Credit Suisse Lowers Alphabet's (GOOGL) PT, Maintains Outperform
Get Alerts GOOGL Hot Sheet
Rating Summary:
35 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 3 | New: 1
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Credit Suisse Outperform Google (NASDAQ: GOOGL) price target of $1,100.00 (from $1,120.00).
Analyst Stephen Ju says "As we take stock of our projections, the most significant changes to our model are as follows: 1) increased Google Web Sites revenue due to YouTube for 4Q16 and beyond, 2) decreased conversion rate for YouTube Red to exit 2016 at 0.125% of total user base, 3) decreased Google Play contribution, 4) explicitly layer in GCP revenue, 5) Increased Google Websites TAC even further as we assume a greater mix of mobile traffic versus desktop and 6) increased cash based R&D estimates."
"Our investment thesis for GOOGL shares remain the following: 1) ongoing monetization improvements in Search advertising through product updates such as Expanded Text Ads and Individual Bid Adjustments, 2) larger-thanexpected contribution from Google's larger non-search businesses, namely YouTube, Play and eventually GCP, 3) optionality and upward bias to estimates and shareholder value creation from new monetization initiatives such as Maps as well as the eventual commercialization of Google's Other Bets."
For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.
Shares of Google closed at $826.01 yesterday.
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