Jefferies Says Buy Alphabet Inc (GOOGL); Here’s Why

Jefferies analyst Brian Fitzgerald has reiterated his Buy rating for Alphabet Inc (NASDAQ:GOOGL) following yesterday’s reveal that the tech giant and Honda are in discussions for a potential collaboration integrating GOOGL’s Waymo self-driving technology into Honda vehicles.

For Fitzgerald, this is a compelling move for Alphabet, asserting, “We see this as yet another beneficial productive (and prolific) interface between man+machine that should provide useful consumer insights ultimately leading to more… relevant information and advertising.”

The analyst lists a $1,000 price target for Alphabet, which represents a 23% upside from the current share price.

Fitzgerald stands at #183 out of a total of 4,289 analysts covered by TipRanks’ financial accountability engine. Additionally, Fitzgerald has a five-star ranking with a success rate of 65%, as 91 out of 140 of his ratings have been successful since 2009.

Alphabet has a Strong Buy analyst consensus rating on TipRanks with only 7% of the analysts recommending to either hold or sell Alphabet stock and nearly 93% rating a Buy.

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