Craig-Hallum analyst Anthony Stoss raised the firm's price target on Boingo Wireless (WIFI) to $22 from $18 and keeps a Buy rating on the shares. Stoss tells investors that he would be an aggressive buyer of shares this morning as the company confirmed there are multiple companies interested in M&A. The analyst thinks a deal will likely get done and notes Boingo would make an attractive takeout candidate to a variety of companies including tower companies, wireless carriers, PE firms, fiber companies or even Google (GOOGL).
Canaccord analyst Maria Ripps raised the firm's price target on Alphabet Class A to $2600 from $2400 and keeps a Buy rating on the shares. The analyst noted strength form YouTube helped offset its Search advertising softness last year, and she expects continued momentum from YouTube and a steady recovery from Search to drive an acceleration of its ad revenue growth in 2021.
JPMorgan analyst Doug Anmuth raised the firm's price target on Alphabet to $2,575 from $2,390 and keeps an Overweight rating on the shares. Even with the stock up 30% year-to-date, Alphabet remains one of the analyst's best ideas. Anmuth remains positive on the company's "improving top and bottom line trajectory and potential for bigger capital returns." He updated his sum-of-the-parts valuation, which suggests a market cap approaching $2 trillion, or $2,857 per share, 25% above where shares currently trade.