Analysts bumped up price targets on Alphabet Inc following Q4 Beat and stock split. Alphabet stock split adds pressure on Amazon.com Inc to follow suit, said Morgan Stanley. JPMorgan ups Alphabet target but ‘not chasing the shares.’ Jefferies analyst Brent Thill raised the PT to $3,600 from $3,500 (30.5 percent upside) and reiterated a Buy. Thill said “another strong quarter at scale” that was driven by the company’s “massive and diverse audience reach,” combined with its expanding and innovative portfolio of ad formats. Buybacks reached $50B in 2021, and he estimates $17B remains authorized for additional share repurchases, adding that he would expect an additional authorization in the first half of this year. Wells Fargo raised the PT to $3,600 from $3,400. Cowen raised the PT to $3600 from $3500 Mizuho analyst James Lee raised the PT to $3,600 from $3,350 and maintained a Buy. The company’s website revenues growth came in 7 points ahead of expectations at 34 percent year-over-year due …
Read How Analysts View Alphabet Post Q4, Stock Split
February 3, 2022
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