Wells Fargo raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $184 from $177 and keeps an Equal Weight rating on the shares. The firm sees Q2 print as enough given year-to-date share underperformance. Ads were rather underwhelming given bullish investor expects, whereas cloud acceleration was a standout positive, Wells adds. The firm sees likely benign search case remedy decision, expected in the first half of August, as next catalyst.
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