Alphabet price target raised to $148 from $140 at Piper Sandler

Piper Sandler raised the firm’s price target on Alphabet to $148 from $140 and keeps an Overweight rating on the shares. The company’s Q2 results beat P expectations across the board and advertising trends were again better than expected, the analyst tells investors in a research note. The firm says the bear case on cost increases due to artificial intelligence has not materialized.