Alphabet shares got a price target hike from an analyst at Robert W. Baird & Co., on optimistic outlook for the latter part of 2020 and for the next year.
Analyst Colin Sebastian boosted his price target on the tech behemoth’s shares to $2,000 from $1,725. Sebastian has an outperform rating on the stock.
According to the analyst, Alphabet gained from strong e-commerce trends during the holiday shopping season. He also suggested that digital-advertising visibility in 2021 is improving.
Sebastian has a "favorable outlook” for the next year, as he views an easy year-over-year comparison alongwith an expected improvement in recreation, travel and auto advertisements.