Scotiabank has revised its price target for Alphabet (GOOG, Financial), decreasing it from $232 to $200, while maintaining an Outperform rating. This adjustment reflects a broader change in market sentiment affecting internet-based stocks, particularly those with exposure to China and tariffs, which are currently underperforming. Conversely, companies perceived as 'safer' are gaining favor among investors.
Several key trends have emerged this quarter. There has been a notable decline in advertising expenditure across most industries, alongside a reduction in demand for cloud services. Investors are also exhibiting a preference for more stable, resilient stocks amid the current economic climate. Despite these challenges, Scotiabank still ranks Google as its second choice within the sector, underscoring its strong position relative to peers.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 17 analysts, the average target price for Alphabet Inc (GOOG, Financial) is $207.59 with a high estimate of $234.00 and a low estimate of $173.00. The average target implies an upside of 37.51% from the current price of $150.97. More detailed estimate data can be found on the Alphabet Inc (GOOG) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Alphabet Inc's (GOOG, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Alphabet Inc (GOOG, Financial) in one year is $195.73, suggesting a upside of 29.65% from the current price of $150.965. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Alphabet Inc (GOOG) Summary page.
