Rosenblatt analyst Barton Crockett raised the firm’s price target on Alphabet to $163 from $132 and keeps a Buy rating on the shares. Alphabet’s Q2 featured improvement in search, YouTube, Cloud and margins with AI “woven throughout.” Contrary to fears, “AI everywhere” is not causing margin indigestion, or disrupting search, but “appears to have potential to make Google a share-gainer in cloud services,” the analyst tells investors in a post-earnings note.
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