John Blackledge's Buy rating on Alphabet Class C is due to robust Google Search spend growth and YouTube strength, especially among younger audiences, driving a positive outlook. Upward adjustments in revenue, income, and EPS estimates contribute to a sustained mid-term performance view.
Blackledge highlights significant acceleration in YouTube ad spend growth due to features like YouTube Shorts and Google's dominant position in mobile video usage. The increased price target from $200 to $220 reflects an optimistic outlook on Alphabet's growth trajectory.
Analyst Blackledge's assessment points to a healthy digital advertising market for Alphabet, with revenue and income estimates surpassing consensus predictions. Positive trends include YouTube's increased impressions and market share in mobile and living room spaces.
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