Is Alphabet Stock Going to $210? One Wall Street Analyst Thinks So.
While Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) is one of the oldest internet-related companies operating, it remains among the most popular. That popularity helps the company's search business continue to generate significant revenue growth, plenty of cash, and solid profitability (a situation unlikely to change).But search isn't the only machine keeping this company on the road to growth, at least according to one analyst. Although he recently made a slight cut to his price target, he still feels the tech giant's shares have plenty of upside.In mid-March, John Blackledge of TD Cowen (a division of Toronto-Dominion Bank), issued an updated report that trimmed his prior price target. Blackledge now believes Alphabet's Class C shares (the ones traded under the GOOG ticker symbol) will rise to $210 over the next year, down a bit from his previous estimation of $220. Continue reading
While Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) is one of the oldest internet-related companies operating, it remains among the most popular. That popularity helps the company's search business continue to generate significant revenue growth, plenty of cash, and solid profitability (a situation unlikely to change).
But search isn't the only machine keeping this company on the road to growth, at least according to one analyst. Although he recently made a slight cut to his price target, he still feels the tech giant's shares have plenty of upside.
In mid-March, John Blackledge of TD Cowen (a division of Toronto-Dominion Bank), issued an updated report that trimmed his prior price target. Blackledge now believes Alphabet's Class C shares (the ones traded under the GOOG ticker symbol) will rise to $210 over the next year, down a bit from his previous estimation of $220.
