Alphabet (GOOGL) PT Raised to $3,660 at Monness, Crespi, Hardt
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Monness, Crespi, Hardt analyst Brian White raised the price target on Alphabet (NASDAQ: GOOGL) to $3,660.00 (from $3,500.00) while maintaining a Buy rating.
The analyst commented, "Last night, Alphabet reported enviable 3Q:21 results, managing to sidestep the digital ad pitfalls experienced by leading social media platforms this earnings season. We believe Alphabet is well positioned to capitalize on the strong secular trend to digital advertising and experience further momentum in the cloud; however, we anticipate the digital ad market will remain volatile in the near term and antitrust investigations will carry on with great fanfare. We are raising our estimates and increasing our 12-month price target to $3,660 from $3,500."
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