Susquehanna Raises Price Target on Alphabet (GOOGL) (GOOG) to $950 as Google Sites Drive Growth

Susquehanna maintained a Positive rating on Alphabet (NASDAQ: GOOGL), and raised the price target to $950.00 (from $875.00), following the company's 4Q earnings report. The
secular
ad
growth
story
continues
to
play
out
as
net
revenue
growth
accelerated
to
26%
y/y
(ex-FX)
and
beat

consensus
by
~3%. The beat was primarily driven by Google Sites. EPS
also
came
in
7%
above consensus,
benefiting
from
lower
taxes.

Analyst Shyam
Patil commented, "Sites and overall revenue delivered a nice beat. Other Bets losses were fine and within the range… the bright spot was the core Google margin expansion of 300bps in 2015. Positive and raising PT to $950 (from $875)."

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 $770.77 yesterday.

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