Stifel Reiterates Hold Rating on Alphabet (GOOGL) Ahead of Earnings

Stifel analyst Scott Devitt reiterated a Hold rating and $1,700.00 price target on Alphabet (NASDAQ: GOOGL) ahead of the company's 4Q:20 report, scheduled for Tuesday, February 2nd, after the market close.

The analyst stated "Data from third-party ad agencies and other data points indicate an acceleration in advertising spending in 4Q, with digital ad spending once again outperforming traditional and offline mediums. Alphabet’s core advertising business should continue to recover in tandem with expected improvements in the global economy, though we consider the expected recovery to be fairly priced in at current levels".

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 $1919.00 yesterday.

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