Pivotal Research analyst Brian Wieser upgraded Alphabet (GOOG, GOOGL) to Buy from Hold and raised his price target for the shares to $970 from $800 ahead of the company's Q1 results.
Google's parent company closed Friday down $1.13 to $739.15. Current quarter results for Alphabet and core Google business trends should be positive and foreign exchange headwinds should continue to ease, Wieser tells investors in a research note.
Google has the economies of scale to produce improving margins, the analyst contends. In the Internet space, Wieser also has Buy ratings on Facebook (FB) and Twitter (TWTR). The analyst this morning also raised his price target for Facebook to $154 from $136 and for Twitter to $39 from $32.
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