HSBC analyst Paul Rossington initiated coverage of Alphabet (GOOG) (GOOGL) with a Buy rating and $285 price target. The firm is positive on Alphabet’s artificial intelligence strategy via Gemini development, Ironwood chips and “gold-standard” datasets. The company’s two most valuable businesses are Google Search and Google Cloud while further growth will come from YouTube, the analyst tells investors in a research note. HSBC expects continued subscriber gains within YouTube Music and Premium. Further growth in Alphabet’s three core businesses should drive further margin expansion, the firm contends.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOOGL:
- IBM Stock Jumps as Anthropic Partnership Turbocharges Its AI Future
- GOOGL Stock Forecast! AI Analyst Stays Bullish on Alphabet
- Alphabet price target raised to $236 from $187 at Wells Fargo
- Amazon (AMZN) Earns a ‘Perfect 10’ Score — Here’s What’s Fueling the Optimism
- Beware of OpenAI! Jim Cramer Warns Big Tech after AMD Deal