Wall Street is becoming more optimistic! Will Alphabet-C catch up?
Since July 12th, seven analysts have raised their expectations for Alphabet-C's stock price, with an average increase of about 16% compared to its closing price on Monday.
Alphabet-C-C-C-C-C-C-C-C-C-C has risen 41% year-to-date, but the stock only saw a modest increase of 1.3% last month, lagging behind some peers. The Nasdaq 100 Index rose 44% in 2023 and increased by 4.3% in the past month.
However, with analysts becoming more optimistic about the stock ahead of the second-quarter earnings release, Alphabet-C-C-C-C-C-C-C-C-C-C may have the potential to rise.
Wall Street is more bullish on Alphabet-C
Alphabet-C-C-C-C-C-C-C-C-C-C is a darling of Wall Street. Among nearly 50 brokerages surveyed by FactSet, Alphabet-C-C-C-C-C-C-C-C-C-C has an average rating of Buy, but analysts have recently become even more optimistic.
Although the market's general price target for Alphabet-C-C-C-C-C-C-C-C-C-C implies a rise of over 8% from current levels, there has been a wave of upward revisions in expectations over the past week, with much higher anticipated gains.
Since July 12, seven analysts have raised their price targets for Alphabet-C-C-C-C-C-C-C-C-C-C, with an average increase of about 16% above Monday's closing price.
One analyst, Justin Patterson of KeyBanc Capital Markets, stated in a report on Monday that the second quarter "may mark the beginning of a reacceleration" for Alphabet-C-C-C-C-C-C-C-C-C-C.
KeyBanc believes that the consensus earnings expectations for Alphabet-C-C-C-C-C-C-C-C-C-C in the second quarter have increased, with an expected EPS of $1.38 compared to the average expectation of $1.34.
Patterson noted that the potential drivers of profit growth for Alphabet-C-C-C-C-C-C-C-C-C-C could be the recovery of the search and YouTube businesses, as well as the impact of cost-saving measures. KeyBanc also raised its annual EPS expectations for 2023 and 2024.
