Google is gearing up for a doozy of an event Tuesday, where it’s expected to announce loads of new products ranging from smartphones to connected speakers to virtual reality headsets.
In a note published Monday, Jeffries analysts wrote that the new products will give new life to Google’s ecosystem of apps and services. They set a target of $1,000 for parent company Alphabet’s stock.
Jeffries’ previous price target for the stock was $804.06.
From the Jeffries note:
“On Oct 4 Google is expected to unveil a slew of new devices designed to showcase and drive usage of its best-in-class software services. Among the expected announcements: two new flagship smartphones designed to directly compete with the iPhone, a strategically important Bluetooth speaker that responds to voice commands, a new Chromecast audio / video streaming device, and a new OS called Andromeda, which will merge Chrome with Android.”
Alphabet stock was trading at about $770 Monday.