Alphabet (GOOGL) Estimates Cut but PT Raised to $1,850 at Credit Suisse
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Rating Summary:
45 Buy, 7 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 11 | Down: 14 | New: 15
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Credit Suisse analyst Stephen Ju raised the price target on Alphabet (NASDAQ: GOOGL) to $1,850.00 (from $1,600.00) ahead of 2Q20 results on July 30th AMC on a model roll to base valuation on 2021 estimates.
The analyst maintained an Outperform rating, stating "We have slightly raised our FX-neutral revenue growth estimate for Search for 2Q20 while YouTube is unchanged and Network is modestly lower. Our 2020/2021 Adj. EPS estimates now stand at $46.52/$54.96 compared to prior forecasts of $47.32/$57.41. Our price target rises to $1850 from $1600 as we roll forward our valuation parameters to end-2021".
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