Citizens JMP raised the firm’s price target on Alphabet (GOOGL) to $225 from $220 and keeps an Outperform rating on the shares. Alphabet reported strong Q2 results as Search, YouTube, and Cloud revenue growth all accelerated, leading revenue to come in 3% above consensus, the analyst tells investors in a research note. While Citizens remains cautious about Google’s ability to sustain results in 2026 and beyond as ChatGPT continues to take share of queries and the antitrust penalties potentially disrupt distribution through Chrome and Apple (AAPL), in the near-term, AI is driving better results for Google and Alphabet is well-positioned across multiple digital vectors, the firm says.
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