Alphabet price target raised to $208 from $200 at BMO Capital

BMO Capital raised the firm’s price target on Alphabet (GOOGL) to $208 from $200 and keeps an Outperform rating on the shares. The firm is positive on the growing optimism that Google AI will increase spend from existing advertisers and onboard a new cohort of small-medium businesses, the analyst tells investors in a research note. BMO is raising its Q2 and 2025 expectations for Search growth forecasts to 10%/11% vs. 9%/10.6% prior forecasts. Alphabet is also “reintroduced” as a Top Pick with shares trading at 18-times expected next-12-months earnings vs. 22.5-times 5-year average, BMO added.