Pivotal Research analyst Michael Levine upgraded Alphabet (GOOG) to Buy from Hold with a price target of $1,650, up from $1,445. The stock closed Friday down $6.71 to $1,360.66. The shares will outperform the other large cap Internet names in 2020 as estimates move higher, Levine tells investors in a research note. He sees "multiple ways" for shareholders "to get paid" under new CEO Pichai Sundararajan and is "encouraged by the durability" of Google's revenue growth despite no real contribution from Google Discover ads. The latter "could be needle moving" in 2020, contends Levine.
Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news. GOVERNMENT SCRUTINY: The Biden... To see the rest of the story go to thefly.com. See Story Here
Shares of Reddit (RDDT) jumped again in Tuesday trading as they extended their run following the launch of options on the stock the day before. Of note, the... To see the rest of the story go to thefly.com. See Story Here