Profile image
By ETF Daily News (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Credit Suisse Says GOOGL is Going to $1,070

Monday, October 17, 2016 6:57
% of readers think this story is Fact. Add your two cents.

Alphabet logoTech titan Alphabet Inc (NASDAQ:GOOGL) received some very bullish commentary this morning from an analyst at Credit Suisse.

The firm reiterated its Outperform rating on the Google parent company, and lifted its price target to $1,070 from $940.00. That new target suggests a massive 33% upside to the stock’s Friday closing price of $804.60.

The Suisse analyst, Stephen Ju, sees upcoming Q3 earnings (expected on Oct. 27 after the bell) as a possible inflection point for the stock. In a note to clients today, Ju commented:

“Heading into the 2Q16 results we called out new ad products that can help maintain Google’s Web Site revenue growth momentum at a higher level, and feedback from advertisers suggests that budget deployment into search started to accelerate starting in 3Q16 as we head into the crucial Holiday period. This acceleration is due to an array of products new and old – advertisers have most often cited the newly-released Expanded Text Ads as one of the contributors, as they are only too happy to purchase the incremental paid clicks generated from the rise in click thru rates, especially as the ROI has remained consistent. And as the potential for deceleration into the tougher comparisons and multiple compression beginning in 3Q16 has been a primary factor in holding GOOGL shares back, we remain buyers as we submit that the stock warrants a higher multiple as it should be able to maintain FX-neutral growth rates in excess of 20%.”

Today’s bullish move from Credit Suisse follows similar recent moves from the likes of Axiom Capital and RBC Capital, both of which project the stock will reach $1,000 or more over the next year.

GOOGL shares were mostly flat in Monday morning trading. Year-to-date, GOOGL has risen 3.6%, versus a 4.5% gain in the benchmark S&P 500 index during the same period.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global


Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.