Alphabet (GOOGL) (GOOG) Bullish View Reiterated at Mizuho Post Q3, Remains Top Pick
Mizuho Securities analyst Neil Doshi reiterated a Buy rating and $1,025 price target on Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) following solid Q3 results.
Yoshi commented, "GOOGL remains our top pick after a solid 3Q beat. Despite tough comps, Google was able to grow its revenue by 23% ex-FX to $22.5b, vs. 25% in 2Q, on continued advertising strength from mobile, YouTube and Programmatic. GOOGL remains unique among large caps - there are very few companies with a revenue base of ~$90b growing 20%+ YoY with operating margins of 40%+. We remain optimistic as we move into 4Q as improved ad formats, new AI-based hardware, and cloud services, should drive ~20%+ revenue growth."
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Shares of Alphabet closed at $795.35 yesterday.