Mizuho Securities Upgrades Google (GOOGL) (GOOG) to Outperform on the 'Alphabet Soup' Catalyst

Mizuho Securities upgraded Google (NASDAQ: GOOGL) (NASDAQ: GOOG) from Neutral to Outperform with a price target of $715.00, after the company's material re-org announcement.

Analyst Neil Doshi commented, "Three of our biggest concerns around Google have been 1) lack of transparency for investors; 2) an organization structure that is too large (55,000 employees) and not very nimble; and 3) the European Commission anti-trust lawsuit. With the new Alphabet Inc. holding company re-org, we believe that this is a major catalyst for the stock, and addresses our first two concerns for the company."

For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.

Shares of Google closed at $633.73 yesterday.

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