Justin Post, an analyst from Bank of America Securities, maintained the Buy rating on Alphabet Class A (GOOGL – Research Report). The associated price target remains the same with $200.00.
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Justin Post has given his Buy rating due to a combination of factors that highlight Alphabet’s strengths and potential for growth. Despite concerns about competition from platforms like ChatGPT and the implications of the Department of Justice’s search case, Post sees Alphabet’s deep integration and proprietary data as key advantages. These elements provide a strong foundation for monetization and defensibility as AI models become more common.
Additionally, Post points out that Alphabet’s non-search segments, such as Cloud, YouTube, and Waymo, are often undervalued but hold significant growth potential. The potential for regulatory clarity could also allow Alphabet to be more aggressive in its AI strategies. Overall, the combination of these factors, along with a large number of bullish investors, supports the Buy rating for Alphabet Class A stock.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $203.00 price target.