Alphabet (GOOGL) Stock Higher, Launches Google Station - TheStreet

NEW YORK (TheStreet) -- Shares of Alphabet (GOOGL) - Get Report  were increasing in pre-market trading on Tuesday as its unit Google is rolling out a new public WiFi service in India called Google Station. 

The move comes as the technology company looks to broaden its reach in the country and draw more users to its search engine platform. 

Google will launch the WiFi hot spots in places frequented by large groups of people, such as malls, transit stations, universities and cafes, the company said in a statement this morning. 

The company currently offers free wifi access at 53 railway stations in India and plans to expand the service to 100 by the end of 2016, Google added.

Google is also exploring monetizing the service at railway stations. 

Google Station will launch in Indonesia and the Philippines at some point, the company said. 

(Alphabet is a core holding of Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

The team rates Alphabet as a Buy with a ratings score of A. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that it rates. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels. Although the company may harbor some minor weaknesses, the team feels they are unlikely to have a significant impact on results.

You can view the full analysis from the report here: GOOGL

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