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GOOGL at 16x P/E Against 82% Cloud Growth: Phillip Securities Upgrades to Buy
Five days after Alphabet's stock fell 7% on an earnings report that delivered the fastest Cloud growth in the company's history, Phillip Securities analyst Serena Lim Yi Qi upgraded GOOGL from Accumulate to Buy. She did not do so despite the selloff — she did so because of it. The post-earnings drop left Alphabet trading at roughly 16 times trailing earnings while its Cloud business was growing at 82% year over year and its contracted backlog had reached $514 billion. For investors trying to decide what that combination means at a price near $333, the upgrade is the most concrete piece of new evidence available today.
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