(CercleFinance.com) – Mizuho Americas reduced its price target on Alphabet on Friday, bringing it down from 175 to 150 dollars due to the uncertainties weighing on the activity of the technology group.
In a research note, the broker estimates that Google should show some resistance in the short term because of its pricing, which remains solid, while stressing that the market forecast for 2023 seems ambitious to him in view of the slowdown in looming consumption.
The broker also points out that many CIOs plan to limit their investments in the cloud next year due to the deceleration of the economy.
Mizuho nevertheless considers that Alphabet is likely to prove more resilient than its peers thanks to its diversified base, which leads it to maintain its buy recommendation on the title.
Copyright © 2022 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
