Citi analyst Ronald Josey lowered the firm’s price target on Alphabet (GOOGL) to $195 from $229 and keeps a Buy rating on the shares. After spending time at Google Cloud Next, the firm came away “incrementally positive” on the Google Cloud Platform given continued progress across its artificial intelligence tools, Agent offerings, and infrastructure upgrades. However, Citi cut the price target to reflect more limited visibility across the broader online advertising landscape, due in part to tariffs. However, it continues to believe Google’s “product halo and newer search experience with AI Mode can drive search usage and relatively consistent revenue growth.”
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