The logo of Google by Alphabet Inc in front of the company’s office in Beijing, China, 8 August 2018.
Thomas Peter | Reuters
Jefferies analysts have raised their price targets for two tech giants ahead of Q1 earnings reports, citing confidence in the strength of the digital advertising market in the first few months of the year.
The company raised estimates for Google parent company Alphabet and Facebook, and announced in a note to customers that its research showed that the advertising rebound continued to pick up in the fourth quarter as the calendar turned to 2021 . Jefferies has buy ratings for both stocks.