Alphabet price target raised to $126 from $120 at Roth MKM

Roth MKM analyst Rohit Kulkarni raised the firm’s price target on Alphabet to $126 from $120 and keeps a Buy rating on the shares. The analyst states that the company’s Q4 results were a small miss amid revenue shortfall across all key segments, but the firm’s estimates are going higher due to aggressive stock buyback activity. The firm adds that the earnings call also mentioned "AI" over 40 times, and Alphabet CEO indicated that the company is "exceptionally well positioned" for the AI future due to its researchers and tech infrastructure as it plans to make its ChatGPT-like models public in the coming months, starting with Lambda.