- The shares of Alphabet Inc (NASDAQ: GOOGL) have received a price target of $3,325 by Jefferies. These are the details.
The shares of Alphabet Inc (NASDAQ: GOOGL) have received a price target of $3,325 by Jefferies. And Jefferies analyst Brent Thill is maintaining a “Buy” rating on the company shares after increasing the price target from $3,150.
Thill cited a robust digital ad environment in a research report. And Thill noted that both Google and Facebook are trading at reasonable valuation multiples while the second half estimates are likely conservative.
“For GOOGL, we view valuation at a premium to its 2YR avg. (15.8x FY22 EBITDA vs. 13x) as justified given the improved margin profile, breakthrough YouTube growth, and more aggressive share buybacks,” wrote Thill in the research report.
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