Alphabet (GOOG) (GOOGL) PT Raised to $925 at UBS
Get Alerts GOOG Hot Sheet
Rating Summary:
41 Buy, 6 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
UBS analyst Eric Sheridan reiterated a Buy rating and raised his price target on Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) to $925.00 (from $880.00) following strong results after the close.
commented, "With its Q2 EPS report, Alphabet continued to build on recent business strength (F/X neutral gross Websites growth of ~26% YoY over the past four quarters) on the back of continued strong performance in search & video advertising. In addition, Other revenues at core Google positively surprised on the back of positive mgmt. commentary on Google Play & Cloud. Recent investor fears/doubts of a steep trend of deceleration in ad revenue trends from Q2 to Q4 now seem to be shelved in the face of strong results. In addition, opex & capex surprised positively, with core Google continuing to show leverage even as the business outgrows the industry (despite its scale). We view Alphabet as an excellent risk/reward for investors with a combo of above industry revs growth, solid FCF generation and a host of long-tailed investments that are in the early stage of addressing large scale opportunities – we raise our PT from $880 to $925."
For an analyst ratings summary and ratings history on Alphabet click here. For more ratings news on Alphabet click here.
Shares of Alphabet closed at $745.91 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
- TD Cowen Resumes EQT Corp. (EQT) at Hold
- London Stock Exchange Group Plc. (LSEG:LN) (LNSTY) PT Raised to GBP88 at HSBC
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBSSign 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!