Analyst John Blackledge of TD Cowen maintained a Buy rating on Alphabet Class C (GOOG – Research Report), retaining the price target of $195.00.
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John Blackledge’s rating is based on Alphabet’s strong performance across various segments, notably in its Search and Subs/Platforms divisions, which exceeded expectations. The company’s total revenue was slightly above consensus, with operating income also surpassing estimates, indicating robust financial health.
Additionally, Alphabet’s Cloud revenue showed significant year-over-year growth, driven by demand for core and AI products, although it was in line with expectations. The management’s commitment to expanding AI infrastructure and the impressive user engagement in AI Overviews further support the positive outlook. Despite some anticipated headwinds in the Search segment for the upcoming quarter, the overall growth prospects and strategic initiatives justify the Buy rating.
In another report released today, Pivotal Research also reiterated a Buy rating on the stock with a $225.00 price target.