Alphabet (GOOG) (GOOGL) PT Raised to $875 by SunTrust's Peck
SunTrust Robinson Humphrey analyst Bob Peck reiterated a Buy rating and boosted his price target on Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) to $875.00 (from $850.00) following strong Q4 results.
Peck commented, "Ex-FX revenue growth accelerated to +24% YoY, vs. 21% in 3Q and 18% in 1Q, driven by continued monetization momentum in Google Sites (Mobile and YouTube) and Network revenue (programmatic). Segment breakout echoes our view of core strength and prudent “Bets” with a LT vision to drive innovation (link). We believe mobile and video monetization are inflecting, which could be a tailwind going forward as ad dollars migrate online. Maintain Buy and raise PT to $875 from $850."
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Shares of Alphabet closed at $752.00 yesterday.