Needham raised the firm’s price target on Alphabet (GOOGL) to $400 from $330 and keeps a Buy rating on the shares. The company’s Q4 results saw “strong revenue momentum” driven by operating and capex growth, while its CEO explicitly rejected the idea that AI undermines SaaS economics, stating that many enterprises are adopting Gemini to cut costs and to introduce new products that drive revenue growth faster, the analyst tells investors in a research note.
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