Alphabet price target raised to $345 from $300 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the firm’s price target on Alphabet (GOOGL) to $345 from $300 and keeps an Outperform rating on the shares as AI tailwinds building across Search/YouTube/GCP. Search accelerated to +15% year-over-year vs. Q2 +12%, 2%/3% above Opco/Street estimates as AI driving “expansionary moment for Search.” While Meta (META) and Alphabet (GOOG) are both now seeing AI tailwinds to core businesses, the latter is managing expenses with more predictable return on capex/opex, while Meta is chasing AGI with unknown impact.