Roth MKM raised the firm’s price target on Alphabet (GOOGL) to $212 from $206 and keeps a Buy rating on the shares. The company reported a clean beat in Q3 that was driven by strength in Search and “highly impressive” material acceleration in Cloud revenue as its core Google Services operating margin exceeded 40%, its Cloud margins reached a record high of 17%, and its CapEx stayed at a $52B annual run rate, the analyst tells investors in a research note.
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