Barclays analyst Ross Sandler raised the firm’s price target on Alphabet to $200 from $173 and keeps an Overweight rating on the shares following the Q1 report. Google is in the “sweet spot” of accelerating growth, expanding margins while shipping product faster, and returning capital – “basically proving the naysayers wrong,” the analyst tells investors in a research note. While there are storm clouds emerging in the second half of 2024 with the Department of Justice, ad market deceleration and competition, Alphabet’s momentum should stay strong for a while, says Barclays.
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