Alphabet price target raised to $216 from $212 at Citi

Citi analyst Ronald Josey raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $216 from $212 and keeps a Buy rating on the shares. The firm emerged from Alphabet’s Q3 earnings incrementally positive on the shares. Google Search and YouTube revenue growth of 12% year-over-year highlight continued advertiser adoption of Alphabet’s monetization tools as query growth evolves, the analyst tells investors in a research note. Citi says that while regulatory overhangs remain as generative artificial intelligence competition increases, it is encouraged with the Q3 results overall.