Analyst Doug Anmuth of J.P. Morgan reiterated a Buy rating on Alphabet Class C (GOOG – Research Report), retaining the price target of $195.00.
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Doug Anmuth has given his Buy rating due to a combination of factors that highlight Alphabet’s strong position in the AI sector and its rapid pace of innovation. Alphabet’s advancements in AI, particularly through its Gemini platform, are leading the industry, with significant integration into Google Search and other products. The company’s ability to innovate quickly and bring AI-driven features to market is a testament to its execution capabilities.
Furthermore, Google’s comprehensive approach to AI, encompassing world-class research, custom hardware, and robust infrastructure, positions it well against competitors. The ongoing improvements in Google’s foundational models and their widespread adoption underscore the company’s leadership in AI technology. Additionally, the stock’s current trading price presents a discount compared to historical averages, offering a potentially attractive entry point for investors.
In another report released on May 16, Raymond James also maintained a Buy rating on the stock with a $180.00 price target.