Alphabet target cut on travel ad impact

Mar. 10, 2020 8:29 AM ETGOOG, GOOGLBy: Brandy Betz, SA News Editor12 Comments
  • Loop Capital Markets (Hold) cuts its Alphabet (GOOG,GOOGL) target from $1,450 to $1,320.
  • Analyst Rob Sanderson expects a 15% Y/Y decline in travel ad revenue in Q1 and a 20% drop in Q2 due to the coronavirus outbreak.
  • The firm isn't including the impact for other ad categories in the target at this time, but Loop expects "contraction across the board."
  • Alphabet shares are up 3.5% pre-market to $1,257.71 as the market recovers from yesterday's slide.
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