Google Parent's Stock Gets Price-Target Boost On Hopes Of Q3 Beat: Analyst Explains Bullish Stance
Portfolio Pulse from Shanthi Rexaline
Ahead of Alphabet Inc.'s Q3 results release on Oct. 24, KeyBanc Capital Markets analyst Justin Patterson has raised his price target for the company's stock from $145 to $155. Patterson predicts a Q3 beat for Alphabet, with healthy Search trends and strong retail and travel verticals. He also forecasts a 13% YoY overall revenue growth for Q4, driven by Search strength and improving YouTube performance.
October 13, 2023 | 12:04 pm
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POSITIVE IMPACT
Alphabet's stock price target has been raised by KeyBanc analyst Justin Patterson, who predicts a Q3 beat and a 13% YoY overall revenue growth for Q4.
The raised price target and positive predictions from the KeyBanc analyst could lead to increased investor confidence in Alphabet, potentially driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Alphabet's stock price target has been raised by KeyBanc analyst Justin Patterson, who predicts a Q3 beat and a 13% YoY overall revenue growth for Q4.
The raised price target and positive predictions from the KeyBanc analyst could lead to increased investor confidence in Alphabet, potentially driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100