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Google’s Parent Company Shares Performs Better

Google’s Parent Company Alphabet shares rose 1.06% to $2,550.98 Wednesday. This proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX rising 0.82% to 4,358.69 and the Dow Jones Industrial Average DJIA rising 0.83% to 34,798.00.

Google’s Parent Company closed $35.55 below its 52-week high ($2,586.53), which the company achieved on July 14th. The stock showed a mixed performance when compared to some of its competitors Wednesday, as Apple Inc. AAPL fell 0.51% to $145.40, Microsoft Corp. MSFT rose 0.74% to $281.40, and Facebook Inc. Cl A FB rose 1.34% to $346.23.

Google’s Parent Company trading volume (1.0 M) remained 238,545 below its 50-day average volume of 1.3 M. This was the stock’s second consecutive day of gains. Reporting bullishly on the stock is Justin Post of Bank of America, who wrote that Alphabet can be seen as a good 2021 recovery stock with more value to gain. He added that while the company’s quarter-over-quarter comparison may be difficult to beat, CEO Sundar Pichai has made efforts to keep shareholders pleased.

Post repeated a Buy rating on the stock and provided a price target of $2,755 per share. This target suggests a possible 12-month upside of 9.14%. GOOGL has recently experienced positive activity elsewhere across its far-reaching business. Its wearable operating software is merging with Samsung, while it is integrating a shopping platform with Shopify merchants and payment options.

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