Piper Sandler analyst Thomas Champion raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $210 from $200 and keeps an Overweight rating on the shares. The firm notes Google reported a solid Q3, with mid-teens revenue growth and revenue and op income 2% and 8% above its estimates. Gemini could be a profound tailwind to the ad stack and AI overlays are expanding and taking hold, Piper adds. Results at Cloud and within YouTube subscriptions stood out. A nice debut for new CFO Ashkenazi, the op margin result was a positive surprise, says the firm.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOOGL:
- Alphabet’s New CFO Eyes Cost Cuts as GOOGL Invests in AI and Cloud
- Reddit price target raised to $85 from $65 at Bernstein
- Alphabet price target raised to $185 from $180 at Bernstein
- Alphabet price target raised to $187 from $182 at Wells Fargo
- Alphabet price target raised to $220 from $200 at JMP Securities