Truist analyst Youssef Squali lowered the firm’s price target on Alphabet (GOOGL) to $220 from $225 but keeps a Buy rating on the shares. The company’s beat across Search and YouTuve reflects its strong competitive position despite the rise of new AI search platforms, but slower Cloud growth and a materially higher Capex guide for FY25 signal the need for more investments, the analyst tells investors in a research note. Truist adds however that the firm remains constructive on Alphabet given its strong fundamentals and attractive valuation.
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