Advertising Growth Will Be Mixed For Big Tech, But Easing Comps Would Help In Late 2024 - One Analyst Asserts
Portfolio Pulse from Anusuya Lahiri
Seaport analyst Aaron Kessler initiated coverage of Alphabet Inc (GOOG), Meta Platforms Inc (META), and Pinterest, Inc (PINS). He gave a Neutral rating to Alphabet, a Buy rating to Meta with a price target of $365, and a Buy rating to Pinterest with a target of $33. He expects modestly improving ad growth for Alphabet in the second half of 2024, accelerating ad growth for Meta and Pinterest in the same period.
October 24, 2023 | 6:17 pm
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NEUTRAL IMPACT
Alphabet Inc received a Neutral rating from Seaport analyst Aaron Kessler. He expects modestly improving ad growth for Alphabet in the second half of 2024.
The Neutral rating suggests that the analyst sees the stock as fairly valued at current levels. The expectation of improving ad growth could be a positive signal, but it's offset by the neutral rating.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Meta Platforms Inc received a Buy rating from Seaport analyst Aaron Kessler with a price target of $365. He expects accelerating ad growth for Meta in the second half of 2024.
The Buy rating and the price target of $365 suggest that the analyst is bullish on Meta. The expectation of accelerating ad growth is a positive signal for the company's future revenues.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Pinterest, Inc received a Buy rating from Seaport analyst Aaron Kessler with a price target of $33. He expects accelerating ad growth for Pinterest in 2024.
The Buy rating and the price target of $33 suggest that the analyst is bullish on Pinterest. The expectation of accelerating ad growth is a positive signal for the company's future revenues.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100