Wedbush analyst Scott Devitt raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $220 from $210 and keeps an Outperform rating on the shares, while naming the stock a top pick for 2025. The firm thinks the search debate could take the backseat this year as investor focus shifts to 2025 Cloud growth and possible margin upside. Last quarter, Cloud growth accelerated across both core products and AI-focused offerings and AI contributions should build in 2025. Alphabet’s new CFO plans to build on prior cost optimization efforts, which could take the form of more aggressive measures this year resulting in margin upside vs. expectations. While Wedbush acknowledges the risk from pending legal battles, it continues to view structural changes as an unlikely outcome.
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