03:09 PM EDT, 04/26/2024 (MT Newswires) -- Alphabet's (GOOG) Google ( GOOG ) properties are expected to grow by around $20 billion in 2024 as Search monetization steps up and YouTube ( GOOG ) recovers, UBS said Friday in a note to clients.

The Search franchise is on track to accelerate and add $16 billion in revenue, while YouTube ( GOOG ) is set to recover and grow $5 billion in revenue this year, UBS said.

"Overall, our revenue estimates march higher as we factor in quick acceleration in YouTube ( GOOG ) (where YouTube TV is gaining budgets from linear TV and seeing better YouTube Shorts monetization) and take off some of the conservatism in Search," UBS said.

UBS estimates 2024 Google Search revenue of $190.5 billion, versus the previous estimate of $187.2 billion, and YouTube Ads revenue of $36.6 billion, up from $35.3 billion.

UBS raised Alphabet's price target to $173 from $166 and maintained its neutral rating.

Alphabet shares rose 9.4% in recent Friday trading.

Price: 172.82, Change: +14.87, Percent Change: +9.41