Sundar Pichai, Alphabet CEO.
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Here are the biggest calls on Wall Street on Friday:
KeyBanc raised its price target on Alphabet to $1,769 to $1,546
KeyBanc raised its price target on Alphabet to a Street high and said the company’s growth prospects remain excellent.
“We believe this is justified by our view of improving margin and FCF outlooks, growth prospects that remain excellent, and overall multiple expansion in the market. Even at these new higher target multiples, we believe the high quality of the underlying businesses and profit growth potential would make FB and GOOGL attractive.”
Rosenblatt raised its price target on Apple to $250 from $150
Rosenblatt raised its price target on Apple but kept its sell rating on the stock and said expectations for the 5G cycle were too high.
“Expectations for the 5G upgrade cycle in 2020 being too high. We believe the higher prices for 5G smartphones and 5G services will slow the upgrade cycle. New services, such as music, news, streaming, TV, being regional services compared to global services. We are waiting to see if there are 5G applications that will drive mobile platforms to generate more content or service revenue for smartphone original equipment manufacturers.”
Read more about this call here.