RBC Capital raised the firm’s price target on Alphabet to $155 from $145 and keeps an Outperform rating on the shares. The analyst cites the company’s Q2 earnings beat while noting that its forward capex commentary was in-line with expectations even as Alphabet is arguably accelerating its generative AI new product cadence. RBC also maintains its view that Alphabet is a long-term generative AI beneficiary and has the tools to transition its leading search business into an integrated generative experience while likely continuing to grow share in cloud.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GOOGL:
- VTI ETF’s Simple but Powerful Strategy is a Long-Term Winner
- Early notable gainers among liquid option names on July 26th
- Alphabet price target raised to $160 from $130 at Evercore ISI
- Notable open interest changes for July 26th
- Microsoft and Alphabet capex commentary positive for semis, says Jefferies