Needham analyst Laura Martin raised the firm’s price target on Alphabet (GOOGL) (GOOG) to $450 from $400 and keeps a Buy rating on the shares. The firm cites the company’s better-than-expected Q1 results, also noting the management’s comments about collapsing the purchase funnel by using AI answers, the analyst tells investors in a research note. Google has stated that its goal is to capture the entire customer journey through AI Answers and AI Mode, from discovery to purchase, and this vision directly targets Amazon’s (AMZN) core eCommerce business, the firm noted.
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