Citizens Maintains Market Outperform on Alphabet, $515 PT

Citizens analyst Andrew Boone reiterated a Market Outperform rating and $515 price target on Alphabet (NASDAQ: GOOGL).

“YouTube’s leading scale and distribution is drawing subscale partners looking to tap into its audience.

YouTube is already the default destination, on the strength of sheer scale built on the aggregation of the long tail of content and a leading discovery engine.

Given its viewership base, subscale streamers are looking to attach themselves to YouTube to reach its vast audience.

As more services opt to distribute through YouTube, benefiting its viewership trends, that scale attracts more partners, reinforcing a flywheel that makes it harder for single apps to compete for default status.

YouTube is increasingly becoming less a streaming app and more of a TV/content platform.”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.