Oppenheimer raised the firm’s price target on Alphabet (GOOGL) (GOOG) to $200 from $185 and keeps an Outperform rating on the shares. The firm says it is more constructive on management confidence and AI tailwinds. As expected, Q1 results were solid, with revenues largely in line with Street, while Services margins drove EPS 7% above Opco/Street ex-$10B unrealized gain. Overall, the tone was upbeat, citing experience managing through previous uncertain times, Oppenheimer adds.
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