Piper Sandler analyst Thomas Champion raised the firm’s price target on Alphabet to $128 from $117 and keeps an Overweight rating on the shares after Q1 revenue and EBITDA beat estimates. Advertising trends were better than expected, "for the first time since" Q2 of 2022, notes the firm, which adds that the results "directionally conform" with its ad checks that suggested modestly better spending versus the start of the year.
Published first on TheFly
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