Alphabet’s ‘Google Live from Paris’ event disappoints, says UBS

UBS analyst Lloyd Walmsley made no change to the firm’s Buy rating or $120 price target on Alphabet (GOOGL) shares. The company’s "Google Live from Paris" event was disappointing, as Google failed to directly respond to Microsoft’s (MSFT) integration of ChatGPT into Bing search, putting Google’s current Catch-22 dilemma on full display, the analyst tells investors in a research note. Google could push out strong products in generative AI and enhance existing products with its leading technology here, but likely needs more training before expanding its model broadly, UBS says.