Alphabet: Jefferies continues to expect shares to re-rate.

(CercleFinance.com) - Jefferies continues to expect Alphabet shares to re-rate and sees over 20% upside potential in the share of Google's parent company.


In a research report sent to clients, the US broker says that some of the company's key growth drivers are still underappreciated by the consensus.

In particular, Jefferies cites Google Cloud, Hardware (Home, Pixel), Waymo and YouTube, which could all provide meaningful upside to estimates and drive the stock.

The broker - which maintains a "buy" rating on the shares with a target price of 1200 dollars - also thinks that its margins have stabilized under the new CFO and believes regulatory concerns are far "overblown."

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