Alphabet price target raised to $215 from $200 at KeyBanc

KeyBanc raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $215 from $200 and keeps an Overweight rating on the shares reflecting higher estimates. In the firm’s view, Alphabet remains a case of the narrative vs. numbers. While concerns over AI risk and regulation’s impact on Search will persist over the coming quarters, Alphabet continues to demonstrate solid Search and Cloud growth and expense efficiencies, KeyBanc says. Even with potential headwinds, the firm still believes low double-digit percentage revenue growth and low-to-mid-teens EPS growth is achievable. KeyBanc acknowledges the near-term may still be volatile amid headlines, but believes patient shareholders will be rewarded.