DA Davidson raised the firm’s price target on Alphabet (GOOGL) to $300 from $190 and keeps a Neutral rating on the shares. The firm cites the company’s strong Q3 earnings that were underscored by a continued acceleration at Google Cloud, driven primarily by demand for its compute and AI services. Alphabet management noted that AI MAX is already being used by hundreds of thousands of advertisers, solidifying it as the fastest-growing AI search ads product on the market, the analyst tells investors in a research note.
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