Roth Capital raised the firm’s price target on Alphabet (GOOGL) to $310 from $265 and keeps a Buy rating on the shares. The company reported an emphatic clean-beat Q3 result with accelerating revenue growth rates across the board, including Search, YouTube, Cloud, and Subscriptions, though OpEx and CapEx came in above expectations, the analyst tells investors in a research note. Google Cloud and Microsoft (MSFT) Azure trends also imply strengthening AI Cloud and Internet Cloud trends, which is a positive indicator for Amazon (AMZN) earnings, the firm 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: