Morgan Stanley's Internet team, led by analyst Brian Nowak, said they are encouraged by the new partnership that Waymo, Alphabet's autonomous driving unit, has struck with Lyft. Assuming Waymo can grow to a fleet of about 3M cars, each driving about 65k miles/year, by 2030 and can generate $1.25 in revenue per mile driven on average implies an enterprise value of about $70B for Waymo, Nowak's team tells investors. Nowak's team, who view Waymo as the most likely "Other Bets" candidate to be spun off into a separate company from Alphabet, think more miles/year and revenue/mile could lead to an enterprise value as high as $140B. Even valued at $70B, the unit could add about 12% to Alphabet's current enterprise value, the team concludes. Morgan Stanley keeps an Overweight rating and $1,050 price target on Alphabet shares.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

In a regulatory filing, Alphabet disclosed that its CEO Sundar Pichai sold 22.5K shares of common stock on April 17th in a total transaction size of $3.54M.

Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news. UPPING PARENTAL CONTROLS: The... To see the rest of the story go to thefly.com. See Story Here

Truist raised the firm's price target on Alphabet to $170 from $158 and keeps a Buy rating on the shares. The firm is expecting the company to report "solid" Q1 results driven by "healthy" user engagement that continues to drive more ad spending across Search and Social, helped by an ongoing recovery in pricing. Conversations with digital ad agencies suggest that the momentum seen in Q4 was sustained in Q1 across Search and YouTube, though the management's commentary for Q2 may be cautious given the macro environment, with continued emphasis on investments in Cloud and AI, the analyst tells investors in a research note.

The U.K. plans to hold talks this month with Apple (AAPL), Meta (META), Alphabet (GOOGL) and others to push a voluntary charter granting parents more control of social media use by young teens, Bloomberg's Ellen Milligan reports. According to people familiar with the matter, ministers want to launch a consultation later this month to gauge ways of limiting the potential harm to children caused by social media, and the proposed voluntary charter may involve tech firms agreeing to alert parents when their children are repeatedly looking up disturbing content. Reference Link