Needham analyst Laura Martin maintained a Buy rating on Alphabet Class A today and set a price target of $210.00.
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Laura Martin has given her Buy rating due to a combination of factors that highlight Alphabet’s strategic positioning and corporate culture as key drivers of its valuation growth. She emphasizes that Google Search, Android, and Google Cloud have been major beneficiaries of significant technological waves, such as the internet, mobile, and cloud tech waves, respectively. Additionally, she anticipates that GOOGL’s Gemini will be a leading player in the emerging GenAI tech wave.
Martin points out that Alphabet’s assets, coupled with its technology-centric corporate culture, position it uniquely among companies with a similar price-to-earnings ratio. She also notes improvements in GOOGL’s execution, as evidenced by labor productivity trends, which further support her decision to raise estimates and the price target for the stock.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $210.00 price target.