Alphabet: in green, a broker raises its price target
In support of its optimism, the broker mentions, among other things, accelerating advertising revenue growth, favorable comparables, notable strength in search activities and favorable winds related to AI.
Valuation remains reasonable at 12.1x EV/EBITDA 2024, in line with the 10-year average and below the S&P500's 13.6x. The future appointment of the CFO could be a catalyst", adds the broker.
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