Top Wall Street Analysts Are Getting Bullish on These Stocks for the Long Run

Although a slowdown at YouTube may be an issue for investors to worry about, Raymond James analystbelieves there is much to like in GOOGL stock. First, Alphabet’s management explained that the issue with YouTube was the direct response ad type, which faced a tough comparison with the same quarter the previous year. However, the company believes that there is still a great opportunity in the direct response category.

Kessler also observed that the cloud business is also a major bright spot for Alphabet, noting that the business is gaining momentum. According to the analyst, Alphabet’s Other Bets, which include self-driving unit Waymo, also have a promising future. Alphabet’s $70 billion boost to its share repurchase program also caught Kessler’s attention. The new plan is in addition to the roughly $4 billion remaining under its previous repurchase program, the analyst noted.

Kessler is ranked at No. 88 out of nearly 8,000 analysts in the TipRanks database. His stock ratings have been correct 65% of the time, with an average return of 19% per rating.

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