Alphabet share-price target cut by Credit Suisse on potential drop in YouTube sales
Alphabet Inc. (NASDAQ:GOOGL), the parent company of Google, had its share-price target cut by Credit Suisse, which cited potential softer-than-expected revenue from its YouTube.com business.
Credit Suisse lowered its price target to US$1,350.00 from US$1,400.00, thefly.com cited analyst Stephen Ju as saying in a note to investors.
Ju has moderated his YouTube.com revenue estimates on the assumption the service will be US only, the note said.
Still, Alphabet remains his favorite company in the sector, he said. Ju has an Outperform rating on the stock.
The shares were little changed at US$1089.00 at 10:23 a.m.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/195492/alphabet-share-price-target-cut-by-credit-suisse-on-potential-drop-in-youtube-sales-195492.html
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