Alphabet price target raised to $155 from $130 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the firm’s price target on Alphabet to $155 from $130 and keeps an Outperform rating on the shares following the quarterly results. Macro weakness finally impacted Search, coinciding with headcount reduction, so a 4% reduction in net advertising revenue is potentially offset by lower opex and GCP on target for reduced losses, the analyst tells investors in a research note.