Alphabet (GOOGL) PT Raised to $1020 at Mizuho
Mizuho Securities analyst Neil Doshi reiterated a Buy rating and raised his price target on Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) to $1,020.00 (from $1,010.00) following a solid Q2 beat after the close.
Doshi commented, "We remain Buyers of GOOGL shares after the company reported a solid 2Q beat with accelerating trends in the core Google ads business. Gross revenue accelerated 25% ex-FX to $21.5b, vs. 23% in 1Q, and gross revenue & non-GAAP EPS were 4%/5% above Street expectations. GOOGL remains unique among large caps - there are very few companies with a revenue base of ~$90b growing 20%+ with operating margins of nearly 50%. It is clear that online ad dollars are going to two companies - Google and Facebook."
For '16, the firm is raising non-GAAP EPS by 3% to $34.60.
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Shares of Alphabet closed at $745.91 yesterday.