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The price target for the stock was also raised significantly implying upside in high twenties

Alphabet Inc (NASDAQ: GOOG) has been upgraded at Pivotal Research, only days before the Q1 earnings call. The earnings report for the first quarter of the fiscal year 2016 will be released at the close of market on April 21. The sell side firm has also raised the price target which suggests a significant 28% upside to the current levels.

Analyst at Pivotal Research, Brian Wieser, remained largely positive during his commentary and believes trends around core and quarterly reports have been very positive. In his view, the revenue growth will be massive but will also be softened by the forex headwinds, considerably and would equal to net growth 16% in revenues ex-TAX year over year growth of 18% in revenue. On the advertisement front, Google and Facebook remain obvious leaders and trends suggest that the domination is likely to be sustained for the next few years. Growth in advertisement should be in significantly higher, with little to no movement in market share.

Supporting growth areas such as YouTube and Google Display Network related revenues from related programming remain strong and will continue to grow at an accelerated pace. Google has also launched a variety of new projects and is engaged in diversification. The launch of Google analytics 360 Suite and growing investment in marketing technologies can further enhance growth in the advertisement sector and will capture the attention of marketers leading to greater spending on Google’s advertisements in the near future.

The analyst concluded that there’s not much that could go wrong, if at all, and the company remains well positioned to drive growth further. The analyst upgraded the stock to buy from hold and raised the price target to $970 from $800, suggesting a 28% upside potential. The analyst opinion for Google has 5 strong buy and 7 buy ratings. The stock is currently trading at $724.51, up 0.45% as of Monday, 09:53 AM.