Alphabet: Deutsche Bank raises price target
(CercleFinance.com) - Deutsche Bank raised its price target on Alphabet to 2,020 dollars from 1,975 dollars on Monday, which implies a 34% upside from current levels.
The brokerage firm - which has a "buy" rating on the stock - said it has heard "positive feedback" on both YouTube and search ads improving through the third quarter.
"We also see Google benefiting in the fourth quarter as travel advertising comprises less of the mix and continues to slowly recover," Deutsche Bank added.
Looking out into 2021, the broker said it sees advertising continuing to recover, travel ads performing better, thanks to the vaccine, easier comparatives, and expects Google Cloud to contribute more to earnings.
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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.
The brokerage firm - which has a "buy" rating on the stock - said it has heard "positive feedback" on both YouTube and search ads improving through the third quarter.
"We also see Google benefiting in the fourth quarter as travel advertising comprises less of the mix and continues to slowly recover," Deutsche Bank added.
Looking out into 2021, the broker said it sees advertising continuing to recover, travel ads performing better, thanks to the vaccine, easier comparatives, and expects Google Cloud to contribute more to earnings.
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.