Bob Peck Praises Alphabet’s Q4 Beat

Alphabet Inc (NASDAQ: GOOGL) shares have gained 17 percent since August 3. SunTrust Robinson Humphrey’s Robert S Peck maintained a Buy rating for the company, while raising the price target from $850 to $875. Continued execution, return of capital and relatively higher valuation and multiples compared to peers make Google’s stock attractive, Peck stated. Alphabet reported robust 4Q results, with ex-FX revenue growth accelerating to 24 percent y/y, from a 21 percent increase recorded in 3Q. Revenue growth was driven by continued monetization momentum in various Google sites and network revenue. “Segment breakout echoes our view of core strength and prudent “Bets” with a LT vision to drive innovation (link). We believe mobile and video monetization are inflecting, which could be a tailwind going forward as ad dollars migrate online,”…


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