Evercore ISI raised the firm’s price target on Alphabet to $220 from $160 and keeps an Outperform rating on the shares following what the firm describes as “a Clean Beat Q1 EPS print.” The firm, which maintains its “Tactical Outperform” call on Alphabet, adds that the stock remains one of its Top Picks among Large Cap Internet stocks as the firm continues to believe that Alphabet is at the beginning of a major new secular growth cycle powered by Gen AI innovations in the consumer, advertiser, and enterprise space.
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