Alphabet: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse raised its target price for Google's parent company Alphabet from 1,600 dollars to 1,850 dollars, maintaining its "outperform" rating on the stock.


Ahead of the company's second-quarter earnings results on 30 July, the broker said overall checks suggest modest upside, even if the duller V-shaped recovery scenario implies less-sharp recovery path for ad revenue in the second half of the year.

However, Credit Suisse pointed out (1) ongoing monetization improvements in search advertising through AI, (2) greater-than-expected revenue contribution from non-search businesses (YouTube, Cloud, and Play), and (3) shareholder value creation from new monetization initiatives, such as maps.

Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.