Alphabet: UBS raises price target to 1,080 dollars.
(CercleFinance.com) - On Tuesday, UBS reiterated its "buy" rating on Google's parent company Alphabet and raised its price target to 1,080 dollars from 1,050 dollars after a second-quarter report that painted a "picture of two stories.
"
The brokerage firm points out that the tech giant's ad business continues to scale and surprise in its sustained rate of growth, driven by mobile search and YouTube, but notes that the group's cost structure is in evolution.
Still, UBS continues to recommend Alphabet as a "core holding" and holds firm in its constructive long-term view on the stock, saying that the company's strengths with respect to artificial intelligence, machine learning and mobile app ecosystems will likely result in Alphabet playing a key role in the future.
Copyright (c) 2017 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.
"
The brokerage firm points out that the tech giant's ad business continues to scale and surprise in its sustained rate of growth, driven by mobile search and YouTube, but notes that the group's cost structure is in evolution.
Still, UBS continues to recommend Alphabet as a "core holding" and holds firm in its constructive long-term view on the stock, saying that the company's strengths with respect to artificial intelligence, machine learning and mobile app ecosystems will likely result in Alphabet playing a key role in the future.
Copyright (c) 2017 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.