Scotiabank Raises Alphabet Price Target Ahead of Q3 Earnings
Google parent Alphabet (GOOGL) is poised to report third-quarter results on October 29, with Scotiabank analyst Nat Schindler lifting his price target to $310 from $240 while maintaining a Buy rating. The upgrade reflects expectations for Alphabet to outperform peers in Schindler's internet coverage universe, fueled by Google Cloud Platform growth and margin expansion.
Wall Street consensus projects Q3 EPS of $2.30, marking 8.6% year-over-year growth, with revenue estimated at $99.8 billion (up 13%). Schindler highlights a resurgent advertising business—YouTube's monetization of Shorts now approaches traditional video levels in key markets, signaling successful adaptation to shifting digital ad trends.