JPMorgan raised the firm’s price target on Alphabet to $150 from $121 and keeps an Overweight rating on the shares. The company posted solid Q2 results with upside across the board, the analyst tells investors in a research note. The firm says “these were clean results” and Alphabet struck the right notes as it emphasized artificial intelligence leadership, advertising stabilization and innovation, and progress on the cost structure. The firm is “incrementally positive” on the shares post the print.
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