Alphabet Class C (GOOG – Research Report), the Communication Services sector company, was revisited by a Wall Street analyst yesterday. Analyst Jeffrey Wlodarczak from Pivotal Research reiterated a Buy rating on the stock and has a $225.00 price target.
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Jeffrey Wlodarczak has given his Buy rating due to a combination of factors that suggest long-term growth potential for Alphabet Class C stock. Despite mixed quarterly results, with impressive Search and YouTube revenue growth, Alphabet’s cloud revenue showed some deceleration attributed to data center capacity constraints. However, Wlodarczak remains optimistic about the long-term upside from cloud adoption, especially with the rapid development of AI.
Additionally, the analyst acknowledges Alphabet’s strong market position, including its dominance in the search market, significant presence in cloud computing, and valuable assets like YouTube and Waymo. While there are concerns about high capital expenditures and regulatory risks, Wlodarczak believes Alphabet’s valuation is attractive, and there is potential for re-acceleration in cloud growth. Therefore, he maintains a Buy rating while suggesting that investors might need to be patient as Alphabet continues to execute its growth strategies.
In another report released on January 30, Oppenheimer also maintained a Buy rating on the stock with a $225.00 price target.