Google Parent Alphabet's Q2 Expected To Shine With AI, YouTube Shorts, Cloud Strength: Analyst
Portfolio Pulse from Anusuya Lahiri
Bank of America Securities analyst Justin Post has maintained a Buy rating on Alphabet Inc (NASDAQ: GOOGL) and raised the price target from $200 to $206. Post expects Alphabet's Q2 results to be strong, driven by AI integrations, YouTube Shorts monetization, and cloud strength. He anticipates revenue and EPS to exceed Street estimates, with positive impacts from AI-driven ad spend and stable Search revenue. Operating expenditures are expected to be $22.7 billion with core margins increasing. GOOGL shares are currently trading lower by 2.02% at $180.25.
July 17, 2024 | 4:16 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Bank of America Securities analyst Justin Post has maintained a Buy rating on Alphabet Inc (NASDAQ: GOOGL) and raised the price target from $200 to $206. Post expects Alphabet's Q2 results to be strong, driven by AI integrations, YouTube Shorts monetization, and cloud strength. He anticipates revenue and EPS to exceed Street estimates, with positive impacts from AI-driven ad spend and stable Search revenue. Operating expenditures are expected to be $22.7 billion with core margins increasing. GOOGL shares are currently trading lower by 2.02% at $180.25.
The analyst's positive outlook on Alphabet's Q2 results, driven by AI integrations, YouTube Shorts monetization, and cloud strength, suggests a likely short-term price increase. The raised price target and expected revenue and EPS exceeding Street estimates further support this positive impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100