Evercore ISI Maintains $200 Target On Alphabet Shares

Evercore ISI analyst Mark Mahaney reiterated his Buy rating on Alphabet shares and maintained a $200 price target.

Mahaney says recent weakness in the stock is an “excellent buying opportunity” for long-term investors. He expects YouTube and Search to continue driving growth, while he sees potential for upside from Google Cloud. Mahaney says Alphabet is “well-positioned to benefit from the ongoing digitization of the global economy.”

Alphabet shares have underperformed the broader market in recent months, but Mahaney believes the company is still undervalued.

He says the stock is trading at a discount to its historical multiples and is below his sum-of-the-parts valuation of $235 per share.

Mahaney is bullish on Alphabet’s long-term growth prospects.

He says the company is a leader in artificial intelligence, cloud computing, and mobile advertising. He expects Alphabet to continue to invest in these areas and to drive innovation in the years to come.

Overall, Mahaney is confident in Alphabet’s ability to continue to grow and generate value for shareholders. He believes the recent weakness in the stock is an opportunity for investors to buy at a discount.