Alphabet (GOOG) PT Raised to $2,400 at Cowen
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Cowen analyst John Blackledge raised the price target on Alphabet (NASDAQ: GOOG) to $2,400.00 (from $2,200.00) while maintaining an Outperform rating.
The analyst commented, "GOOG reported better top line & a massive Op. Income beat (~51% above our est), helped by Adv. (+10.8% vs. our est), Cloud (+47% y/y), and YouTube (+46% y/y). Brand advertisers returned to YouTube, while Opex was notably better, again helped by slower hiring and lower S&M. We tweaked '21-'26 ests, PT to $2,400 vs. $2,200 prior, reiterate Outperform. GOOG shares +7% AH."
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