Bernstein Raises Alphabet Price Target to $390
Bernstein SocGen Group analyst Mark Shmulik raised the price target on Alphabet (NASDAQ: GOOGL) to $390.00 (from $345.00) while maintaining a Market Perform rating.
“We remain Market-Perform on Google. We raise our price target to $390/Share (+$45).
We value Alphabet using a 50/50 combination of 2027e EV/ EBIT multiple of 28x (+3X) and a DCF using a WACC of 10% and a terminal growth of 3.5%.
We revise up our EV/EBIT multiple from 25x to 28X driven by strong Cloud momentum.
We consider Alphabet primarily a digital advertising business and benchmark valuation to comparable peers in this industry set.”
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