Alphabet price target raised to $217 from $210 at BofA

BofA analyst Justin Post raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $217 from $210 and keeps a Buy rating on the shares. Cloud and Search beats were “a bright spot” in “another strong” quarter that suggests AI use is growing the market, the analyst tells investors in a post-earnings note. While the firm acknowledges growing users of OpenAI, it thinks the Street could be underappreciating potential AI-driven upside and contends that another stable quarter for Google Search results increases confidence in the AI transition and “should ease concerns on a potential revenue reset.”