BMO Capital Upgrades Alphabet (GOOGL) to Outperform

BMO Capital analyst Daniel Salmon upgraded Alphabet (NASDAQ: GOOGL) from Market Perform to Outperform with a price target of $1,400.00.

The analyst comments "To upgrade one of the most consensus "high quality" stocks in the market after a historic sell-off should elicit a fair amount of "yeah, so what?" And GOOGL is only moving slightly, from among our top Market Performs to still-pretty-far-down our Outperform pecking order (DIS, AMZN, NFLX remain on top). But we expect our mega-caps to be popular upon rebound, and we think there are important relative fundamental differences that nudge GOOGL into Outperform territory, and thus the focus of this note is relative tactical positioning vs. FB and AMZN."

For an analyst ratings summary and ratings history on Alphabet click here. For more ratings news on Alphabet click here.

Shares of Alphabet closed at $1116.20 yesterday.

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