Analyst Justin Post of Bank of America Securities maintained a Buy rating on Alphabet Class A (GOOGL – Research Report), retaining the price target of $200.00.
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Justin Post’s rating is based on the observation that Google’s core search traffic remains stable, with a slight increase in mobile daily active users. Despite a marginal decline in global search share, Google’s extensive scale and multi-product reach position it well in the competitive landscape.
Additionally, the potential for AI to enhance search monetization by better understanding user intent behind complex queries is a significant factor. This capability, combined with Google’s robust monetization infrastructure, supports the Buy rating, as it suggests potential for future revenue growth.
Post covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Meta Platforms, and Alphabet Class C. According to TipRanks, Post has an average return of 22.5% and a 67.47% success rate on recommended stocks.
In another report released on June 3, Evercore ISI also maintained a Buy rating on the stock with a $205.00 price target.