BofA raised the firm’s price target on Alphabet (GOOGL) to $146 from $142 and keeps a Buy rating on the shares. Google kicked off its annual Cloud Next event with a keynote highlighting new AI/ML capabilities, partnerships with Nvidia (NVDA), SAP (SAP) and Workday (WDAY) and strong traction with customers, the analyst tells investors. The firm sees Cloud as a positive driver for the stock given Google’s strong gen-AI capabilities, early signs of customer traction with AI projects up 150-times in the last three months and improving margins, the analyst tells investors following the kickoff event.
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