Google’s Alphabet has 22% upside and will be the top FANG stock in 2021, BofA says

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Charles Platiau/Reuters Google's parent Alphabet is Bank of America's top FANG-stock pick for 2021. In a note published Thursday a group of BofA analysts said that Google has a more diversified advertiser base than its tech peers and it's cloud business will be a "significant growth driver" in the next two years. The strategists see the stock exploding 22% in the future to $2,150. It's currently hovering trading around $1,734. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Google's parent Alphabet is Bank of America's top FANG-stock pick for the year ahead. In a wide-ranging overview note published Thursday, a group of Bank of America analysts led by Justin Post broke down why Alphabet has massive upside ahead, and more potential than its FANG peers, Facebook, Amazon, and Netflix.  The strategists see the stock exploding 22% in the future to $2,150. It's currently hovering trading around $1,734.  One of the reasons they cited is that Google has a more diversified advertiser base than some of its social peers, and the tech giant saw a bigger deceleration in advertising growth in the second quarter of 2020.

The analysts said that Google will benefit from search traffic when consumers start searching for travel, ...read more...