Truist analyst Youssef Squali raised the firm’s price target on Alphabet to $122 from $120 and keeps a Buy rating on the shares. The company’s Q1 results were "better than feared", reflecting the resilience of its Search and Cloud business, as its management reigns in cost and focuses investments on the highest growth priorities of AI, Cloud and YouTube, the analyst tells investors in a research note. Truist adds that Alphabet revenue growth should gradually re-accelerate in 2023.
Published first on TheFly
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