BofA raised the firm’s price target on Alphabet (GOOGL) to $210 from $206 and keeps a Buy rating on the shares following a “strong” Q3 beat that featured Cloud growth and margins as “bright spots.” For 2025, the firm increased its net revenue estimate by 2% to $332B to adjust for higher growth in Cloud, Network and Other revenue, offset by marginally lower Google Properties revenue, and raised margins and operating income estimates given a “strong cost focus.”
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