Alphabet upgraded to Overweight from Neutral at Cantor Fitzgerald

Cantor Fitzgerald upgraded Alphabet (GOOG) (GOOGL) to Overweight from Neutral with a price target of $370, up from $310. The firm believes Alphabet has the “strongest footprint across several layers in the AI tech stack.” The company’s decade-long investments have enabled “deep competitive moats,” the analyst tells investors in a research note. Cantor believes that with regulatory headwinds easing, Alphabet should see benefits by leveraging its distribution in consumer and enterprise as AI transitions “from the Frenzy to the Synergy phase.”