After CFRA and Morgan Stanley gave Alphabet Inc (NASDAQ: GOOGL) a Buy rating last month, the company received another Buy, this time from SunTrust Robinson. Analyst Youssef Squali maintained a Buy rating on Alphabet Inc today and set a price target of $1230. The company’s shares opened today at $1152.69, close to its 52-week high of $1198.
Squali commented:
“We note that Google has worked over the past 12-18 months to increase the number of partners available on its shopping site and through its smart assistant to include the likes of Target (TGT, $77.49, NR), Walmart (WMT, $83.25, NR), Home Depot (HD, $200.54, Costco (COST, $207.12, NR), and Carrefour (CA-FR, 15.40, NR). We view the latest announcement as a continuation of that strategy.”
According to TipRanks.com, Squali is a top 100 analyst with an average return of 22.7% and a 75.1% success rate. Squali covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, Trade Desk Inc, and Cimpress.
Currently, the analyst consensus on Alphabet Inc is Strong Buy and the average price target is $1264.78, representing a 9.7% upside.
In a report released today, Citigroup also maintained a Buy rating on the stock.
See today’s analyst top recommended stocks >>
Alphabet Inc’s market cap is currently $805.6B and has a P/E ratio of 49.21. The company has a Price to Book ratio of 5.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Read More on GOOGL:
