Raymond James raised the firm’s price target on Alphabet to $200 from $160 and keeps an Outperform rating on the shares. Google reported a “quality” beat, with Search coming in 3% ahead of buyside expectations, while Cloud also beat by 2% vs. buyside, the analyst tells investors in a research note. To underwrite the $250 bull case, the firm looks for greater clarity on the evolution of search as assistants/agents develop across mobile and enterprise platforms.
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