Alphabet: Susquehanna raises target price
(CercleFinance.com) - Susquehanna raised its target price for the Alphabet stock, having upped its former 1,500 dollar target to 1,550 dollars, as the parent company of Google accelerated its growth in the second quarter.
The US brokerage firm - which keeps a "positive" view on the share - cited "solid" quarterly results, with gross advertising revenue up 20%, with cloud also being a notable driver.
"It didn't take long to get back on track with a strong second quarter and very confident outlook commentary," Susquehanna wrote in a note.
The broker believes that the company has ample room to drive its top-line numbers higher in the second half of the year.
Copyright (c) 2019 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 US brokerage firm - which keeps a "positive" view on the share - cited "solid" quarterly results, with gross advertising revenue up 20%, with cloud also being a notable driver.
"It didn't take long to get back on track with a strong second quarter and very confident outlook commentary," Susquehanna wrote in a note.
The broker believes that the company has ample room to drive its top-line numbers higher in the second half of the year.
Copyright (c) 2019 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.