Jefferies is positive on Google's stock, even though it's undervalued and underperforming its peers and the overall market.
"We remain positive on GOOGL on attractive valuation and a portfolio of assets waiting to be unlocked," said Jefferies Technology analysts Brent Thill.
Thill said that Google's valuation "reflects pessimism." Investors worry about a recent slowdown in advertising revenue growth, competitive losses to Amazon and Facebook, new initiates with lower margins and heightened regulatory overhang. More transparency with investors about new segments and financials, positive sentiment from an increase in share buybacks and a pickup in M&A can all help the "ailing stock," said Thill.of computer software company Looker, to help boost Google's cloud business.
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