Wall Street analysts have given Alphabet (GOOGL) an average brokerage recommendation (ABR) of 1.38, indicating a Strong Buy to Buy rating. However, studies show that relying solely on these recommendations may not lead to successful investments. It’s important to consider other factors, such as the Zacks Rank, which has a proven track record of predicting stock performance.

Brokers often have a positive bias towards stocks they cover, leading to more favorable ratings. On the other hand, the Zacks Rank relies on earnings estimate revisions to predict stock movements accurately. The Zacks Rank assigns stocks into five categories, providing a balanced and timely indicator of a stock’s potential performance.

Alphabet’s Zacks Consensus Estimate for the current year has increased 0.4% to $9.56, leading to a Zacks Rank #2 (Buy) for the stock. Analysts’ optimism and agreement in revising EPS estimates higher suggest a potential price increase in the near future. The Buy-equivalent ABR for Alphabet may guide investors in making informed decisions.

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Read more at Nasdaq: Wall Street Analysts Think Alphabet (GOOGL) Is a Good Investment: Is It?