Roth Capital raised the firm’s price target on Alphabet (GOOGL) to $265 from $210 and keeps a Buy rating on the shares. The firm is raising its Google Cloud growth assumptions on the heels of the recent $10B contract with Meta (META) and healthy AI cloud product announcements, the analyst tells investors in a research note. Shares are in “no man’s land”, trading at about 23-times forward earnings and implying a somewhat balanced risk/reward through year-end, Roth added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOOGL:
- DoorDash teams with Waymo to launch autonomous delivery service in Phoenix area
- Salesforce, Google partner to bring Gemini models to Agentforce 360
- $1 Trillion AI Start-Up Boom Sparks Market Bubble Concerns
- Alphabet Stock (GOOGL) Flat as YouTube Restores Streaming Service after Global Outage
- Tesla’s (TSLA) Brand Value Sinks in Rankings while BYD and Nvidia Surge