Guggenheim raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $280 from $210 and keeps a Buy rating on the shares. The firm remains positive on both Meta (META) and Alphabet into Q3 earnings as its industry discussions have reflected stable overall ad market trends and incremental ad spending concentration in the largest digital platforms, the analyst tells investors in a preview. The firm notes that its higher Alphabet valuation represents a slight premium to the broader tech sector, reflecting incremental confidence in underlying advertiser demand and a “less punitive” search antitrust case outcome.
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