Alphabet price target raised to $1,700 from $1,500 at Credit Suisse
Credit Suisse analyst Stephen Ju raised his price target for Alphabet to $1,700 from $1,500 ahead of quarterly results as he rolls forward his valuation parameters to 2020. After the product-driven changes and gyrations to the first half of 2019 results, the analyst is looking forward to more straightforward reports for the second half of the fiscal year. While he may be tempted to believe that some of the new products Google announced at Marketing Live recently will exert an influence on ad budgets, Ju continues to believe it is the ongoing release of products from years past that are driving the "strong" growth of search and YouTube. He reiterates an Outperform rating on the shares.