RBC Capital raised the firm’s price target on Alphabet (GOOGL) to $220 from $200 and keeps an Outperform rating on the shares. Alphabet had a “very good” Q2 even against an elevated bar, with a beat across every revenue segment and margin upside, the analyst tells investors in a research note. Management painted a better picture on how AI is driving durable Search growth even as clicks aren’t necessarily benefiting, the firm says.
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