Morgan Stanley Remains Bullish on Alphabet (GOOGL) Following Waymo Analysis
Morgan Stanley reiterated an Overweight rating and $1325.00 price target on Alphabet (NASDAQ: GOOGL). Morgan Stanley revised its Waymo model/analyses for 3 emerging business models – ride sharing, logistics, licensing – and increased EV from $75bn to $175bn.
Waymo is key to Morgan Stanley's new $1,550/share GOOGL SoTP. For Transportation, analyst Brian Nowak believes Waymo could accelerate the disintermediation of legacy parcel carriers like UPS/FDX from the eCommerce delivery supply chain. For Retail, Nowak sees Waymo as a way to attract new customers for WMT, strengthen its alliance with GOOGL against AMZN, and potentially increase physical store traffic.
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Shares of Alphabet closed at $1246.69 yesterday.