In a report published Wednesday, Morgan Stanley analyst Scott Devitt reiterated an Overweight rating on Google GOOG, and raised the price target from $932 to $996.
In the report, Morgan Stanley wrote, "We believe that Google has been aggressively courting video advertising dollars, and calculate that YouTube's revenue currently totals about 1.5% of WW TV ad spending. If it captures an amount equivalent 6% by 2020, YouTube may generate
gross revenue of $20b and operating income of $5b."
Google closed Tuesday at $887.10.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in