BMO Capital analyst Brian Pitz raised the firm’s price target on Alphabet to $215 from $185 and keeps an Outperform rating on the shares. The company’s Search & Other revenue growth rate accelerated to 14%, higher than 11% consensus, the analyst tells investors in a research note. Given its full-stack AI offering, BMO sees Alphabet as one of the best-positioned AI competitors, noting that the company should produce longer-term sustainable revenue growth across all segments.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOOGL:
- TikTok Ban: ByteDance Gears Up for a Legal Showdown
- TipRanks’ All-Star Analyst – Who is the Best on GOOGL Stock?
- Alphabet (NASDAQ:GOOGL): The Overlooked Magnificent Seven Stock Is Now Thriving
- GOOGL Earnings: Alphabet Soars 11% amid Earnings Beat, New Dividend
- Options Volatility and Implied Earnings Moves Today, April 25, 2024
