RBC Capital raised the firm’s price target on Alphabet (GOOGL) to $210 from $204 and keeps an Outperform rating on the shares. The company’s Q3 results were “assertively solid”, with core fundamentals generally beating expectations, management’s AI commentary continuing to counter the AI bear case on both search and higher infrastructure cost, and also the management offering a soft warning around unintended consequences from the DOJ’s proposed search remedies, the analyst tells investors in a research note.
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