Alphabet price target raised to $174 from $163 at Rosenblatt

Rosenblatt analyst Barton Crockett raised the firm’s price target on Alphabet (GOOGL) to $174 from $163 and keeps a Buy rating on the shares, calling Q3 “an excellent quarter for the core of Alphabet.” The “only issue was a slowdown in Cloud” to what is “still an impressive pace,” says the analyst, who notes that Alphabet Cloud growth was slower than Microsoft’s (MSFT) Q3, but faster than Amazon’s (AMZN) Q2 rate. The firm attributes better long-term projections for the hike to its long-term driven price target.