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.
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