Alphabet price target raised to $196 from $174 at Stifel

Stifel raised the firm’s price target on Alphabet to $196 from $174 and keeps a Buy rating on the shares. Alphabet “checked a lot of boxes” in Q1, with a “solid beat across the main segments investors are focused on,” namely Search, YouTube, and Cloud, as well as offering some guideposts for FY24 capex. The “icing on the cake” was the introduction of a 20c per quarter dividend, paired with an incremental $70B in buybacks, added the analyst, who is adjusting estimates slightly higher.