rose nearly 3% on Monday to a new record high after Michael Levine, an analyst at Pivotal Research Group, upgraded the stock to "buy" from "hold."
"We are incrementally more constructive about what we perceive as multiple ways to get paid under the recently appointed Pichai regime," Levine wrote in a note Monday. He's evaluating the company based on 12.5x its 2021 Ebitda and said that multiple could easily move higher depending on "actions the new regime could, and should, pursue." the departures of cofounders Larry Page and Sergey Brin.
Under Pichai, there's an opportunity for incremental disclosure, a change in guidance philosophy, and a potential to change capital allocation strategies, such as instituting a dividend, Levine wrote. "Our view is that Thomas Kurian's hiring is akin to Kieth block being hired at CRM in 2013 — another multi-decade senior ORCL hire who hasand business for the better," Levine wrote. The journey will likely take time, however, Levine wrote, as Kurian is just getting started, and Amazon and Microsoft have "substantial leads" in cloud over Google.
Indian intelligence power at its best. Some 500 of the 75000 Tech Indians who came to help USA with Y2K scare, stayed and became millionaires. Their children are Doctors, Dentists, Pharmacists & IT engineers who joined Upper Middle Class and realized the American Dream
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