Deutsche Bank analyst Lloyd Walmsley came out increasingly bullish on Alphabet Inc.'s stcok [: googl] , raising his price target to $1,750, which is the second highest target listed on FactSet, below the $1,907.73 set by Elazar Advisors. Walmsley's old price target was $1,550. The company is set to report holiday-quarter earnings on Feb. 3, and Walmsley expects that the company won't see any deceleration on a sequential basis in the quarter even though it faces slightly tougher comparisons. "The key medium term focal point this quarter will be any signs of a more shareholder friendly approach under the new leadership with Sundar Pichai taking over the Alphabet CEO job," he wrote. He'll look for any improved disclosures either on Alphabet's conference call or in its published results, as well as a step up in the pace of buybacks. Alphabet's stock has gained 7.5% so far this year and the company is close to notching a $1 trillion market capitalization, ending Monday with a $992.9 billion market cap, according to FactSet. The shares have added 18% over the past three months, compared with a 1.8% gain for the S&P 500 . Read More...
Deutsche Bank analyst Lloyd Walmsley came out increasingly bullish on Alphabet Inc.’s stcok [: googl] , raising his price target to $1,750, which is the second highest target listed on FactSet, below the $1,907.73 set by Elazar Advisors. Walmsley’s old price target was $1,550. The company is set to report holiday-quarter earnings on Feb. 3, and Walmsley expects that the company won’t see any deceleration on a sequential basis in the quarter even though it faces slightly tougher comparisons. “The key medium term focal point this quarter will be any signs of a more shareholder friendly approach under the new leadership with Sundar Pichai taking over the Alphabet CEO job,” he wrote. He’ll look for any improved disclosures either on Alphabet’s conference call or in its published results, as well as a step up in the pace of buybacks. Alphabet’s stock has gained 7.5% so far this year and the company is close to notching a $1 trillion market capitalization, ending Monday with a $992.9 billion market cap, according to FactSet. The shares have added 18% over the past three months, compared with a 1.8% gain for the S&P 500 .
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