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Alphabet Nears $1 Trillion Value on Ad-Growth Optimism

  • At least three firms raised their target on Alphabet shares
  • Stock is trading at records, up nearly 40% from June lows
A pedestrian walks past signage at Google Inc. headquarters in Mountain View, California.
Photographer: David Paul Morris/Bloomberg
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Alphabet Inc. shares rose as much as 1.7% following a flurry of positive analyst commentary on the Google parent’s 2020 prospects.

At least three firms raised their price target on the stock, while KeyBanc Capital Markets named it one of its “key ideas” in the Internet sector this year. In particular, analysts were broadly positive that Alphabet would see strong growth in its ad business, helped in part by political ad spending.