Alphabet price target raised to $240 from $220 at Tigress Financial

Tigress Financial raised the firm’s price target on Alphabet (GOOGL) to $240 from $220 and keeps a Strong Buy rating on the shares. The firm believes the company’s ongoing artificial intelligence innovation and implementation will continue to drive increasing advertising and cloud monetization, revenue and cash flow growth, and increasing shareholder value creation. Alphabet has a “unique advantage” in AI due to its ability to develop every component of its technology stack, the analyst tells investors in a research note. Tigress believes further upside in the shares exists.