Alphabet price target raised to $170 from $153 at Argus

Argus raised the firm’s price target on Alphabet to $170 from $153 and keeps a Buy rating on the shares. The company is among the tech names that have come to dominate new developments in mobile, public cloud, and big data analytics, as well as emerging areas such as artificial intelligence, virtual/augmented reality, and even quantum computing, the analyst tells investors in a research note. Alphabet also remains at a minimum competitive if not a leader in the development of generative AI – perhaps the new computing paradigm, the firm states, adding that it also views its underlying businesses positively and believes that Alphabet shares are “attractively valued”.