Alphabet price target raised to $220 from $200 at Barclays

Barclays raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $220 from $200 and keeps an Overweight rating on the shares post the Q3 report. The firm says “almost everything is moving in a good direction” for Alphabet, with the artificial intelligence story progressing, a stable macro for digital ads, strong cost controls despite infra investments, and solid free cash flow. The analyst thinks the shares “could remain choppy as we work through the Search remedies, given the large impact zone.”