Alphabet (GOOG) (GOOGL) PT Raised to $925 at Nomura
Nomura Securities analyst Anthony DiClemente reiterated a Buy rating and boosted his price target on Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) to $925.00 (from $900.00) following strong results.
DiClemente commented, "In addition to meaningful acceleration of core revenue, we were impressed by the core Google operating margin expansion in the quarter, which was +290 bps YoY. We note that management articulated the strategic merits of steady, continued investment in both core Google and the Other Bets, though many investors may interpret these comments as conservatism given the strong 4Q results. We are modestly increasing our revenue and operating income estimates, with a larger increase to our EPS estimate on a lower tax rate forecast. Our $925 Target Price implies as 23x multiple applied to our new 2017 EPS forecast of $40.85."
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Shares of Alphabet closed at $752.00 yesterday.