KeyBanc raised the firm’s price target on Alphabet to $175 from $165 and keeps an Overweight rating on the shares. The firm says it enters Q1 earnings with some caution as it does not see much thesis changing on prints and sees an upward bias to capex. On the margin, Alphabet has more near-term catalysts forming from multiple events; opex discipline; Waymo expansion; a potential dividend; and a new CFO.
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