"Stifel raised the firm's price target on Alphabet () to $292 from $222 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results in Digital Advertising."
"Commentary from the firm's recent advertising checks suggest Q3 growth trends generally improved vs. Q2, with September the strong point during the quarter, though tougher comps and continued tariff / macro uncertainty likely means Q4 guidance across the firm's coverage won't offer much to get excited about despite a generally supportive digital ads environment, the analyst tells investors in a research note."
"Stifel adds that its higher target price reflects an improved next-12-months multiple factoring in generally favorable antitrust remedies for Search."
Stifel increased its price target on Alphabet to $292 from $222 and retained a Buy rating. Recent advertising checks indicate Q3 digital ad growth generally improved versus Q2, with September the strongest month. Despite the improved ad backdrop, tougher year-over-year comparisons and continued tariff and macroeconomic uncertainty are likely to limit Q4 guidance across the firm's coverage. The firm expects Q4 guidance to be muted even with a generally supportive digital ads environment. The higher price target reflects an improved next-12-month multiple that factors in generally favorable antitrust remedies for Search.
Read at TipRanks Financial
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