Oppenheimer raised the firm’s price target on Alphabet (GOOGL) (GOOG) to $235 from $220 and keeps an Outperform rating on the shares as AI tailwinds build across search/GCP. Search revenue accelerated to +12% year-over-year vs. Q1’s +10%, with AI Mode only in U.S./India. Oppenheimer now expects investors to view Alphabet as an AI winner, with August/September. The Department of Justice ruling remaining overhang, the firm adds.
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