Alphabet (GOOG) (GOOGL) PT Raised to $965 at Oppenheimer
Oppenheimer analyst Jason Helfstein reiterated an Outperform rating and boosted his price target on Alphabet (NASDAQ: GOOG) (NASDAQ :GOOGL) to $965.00 (from $822.00) on higher core margins and growth.
Helfstein commented, "We are raising our SOTP price target to $965 from $822 and maintaining our Outperform rating after GOOG reported very strong 4Q results, with core Google margins and revenue growth nicely above expectations. Core Google non-GAAP SOI increased 28% y/y in 4Q and 23% for 2015, versus +18% in 2014. "Other Bets" EBITDA losses of $2.87B for 2015 exceed our base-case 2016E of $2.3B. 4Q benefited from strong advertiser demand for mobile clicks and YouTube ads, while Double-Click programmatic ads continue to grow along a nice trajectory. Target assumes 15x estimated core-Search EBITDA."
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Shares of Alphabet closed at $752.00 yesterday.