Alphabet Inc. (NASDAQ:GOOGL) ranks among the best cloud stocks to buy according to Wall Street analysts. On July 2, DA Davidson reaffirmed its Neutral rating and $160 price target for Alphabet Inc. (NASDAQ:GOOGL), indicating that a potential company split might provide investors with substantial value.
According to the firm, “the only way forward for Alphabet is a complete breakup” that would enable investors to hold only the portions of the company that appeal to them, such as rivals to Netflix, AWS/Azure, NVIDIA, and OpenAI.
DA Davidson also emphasized Google Cloud in its analysis, suggesting that this market area alone might have a standalone value of almost $56 per share. The firm stated that it would view Alphabet Inc. as “the top mega cap pick” if the company went ahead with a comprehensive division of its many business groups, even if it currently holds a Neutral position on the stock.
Alphabet Inc. is a leading tech giant with a diverse portfolio, offering products such as Google Ads, Google Chrome, Google Cloud, Search, and YouTube, holding a dominant position in each of these markets.
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