Needham raised the firm’s price target on Alphabet (GOOGL) to $210 from $178 and keeps a Buy rating on the shares. The company’s strategic position and corporate culture drive upside to its valuation, the analyst tells investors in a research note. Google Search was one of the 3 biggest beneficiaries of the internet tech wave, Android was one of the 2 biggest beneficiaries of the mobile tech wave, Google Cloud was one of 3 biggest beneficiaries of the Cloud tech wave, and Gemini should be one of the 2-4 biggest winners of the GenAI tech wave, Needham noted, further stating that Alphabet execution is improving based on the labor productivity trends.
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