Jefferies raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $320 from $285 and keeps a Buy rating on the shares after the company posted a “solid” revenue beat across all key segments. Cloud revenue grew 34% year-over-year, up from 32% in Q2, while Cloud backlog also accelerated and GCP again grew faster than Cloud overall, the analyst tells investors in a post-earnings note.
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