Alphabet: Credit Suisse trims target price ahead of results
(CercleFinance.com) - While maintaining an "outperform" rating on Alphabet, Credit Suisse has lowered its target price for the stock from 1,400 dollars to 1,350 dollars ahead of the group's first-quarter results, due later today.
In a research note, the broker said it has moderated its YouTube TV revenue estimates after "mixed" quarterly advertiser checks.
Despite a near-term lack of upside to estimates, Credit Suisse said Alphabet remains its best pick in the sector, given the longer-term opportunity that the stock continues to present.
The broker cites (1) monetization improvements in search through product updates, (2) larger-than-expected contribution from non-search businesses, such as Play and Cloud, and (3) optionality for value creation from new monetization initiatives such as Maps as well as the eventual marketing of Waymo or Life Sciences.
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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.
In a research note, the broker said it has moderated its YouTube TV revenue estimates after "mixed" quarterly advertiser checks.
Despite a near-term lack of upside to estimates, Credit Suisse said Alphabet remains its best pick in the sector, given the longer-term opportunity that the stock continues to present.
The broker cites (1) monetization improvements in search through product updates, (2) larger-than-expected contribution from non-search businesses, such as Play and Cloud, and (3) optionality for value creation from new monetization initiatives such as Maps as well as the eventual marketing of Waymo or Life Sciences.
Copyright (c) 2018 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.