Alphabet's AI Advancements and Revenue Streams Paint a Promising Picture: Piper Sandler Analyst
Portfolio Pulse from Anusuya Lahiri
Piper Sandler analyst Thomas Champion reiterated an Overweight rating on Alphabet Inc (NASDAQ:GOOGL) with a price target of $147. He expects Alphabet to be a major player in AI and sees new product opportunities. He raised CAPEX Google Cloud revenue for FY24E and FY25E and increased near-term YouTube revenues. He also sees an improving picture for core Search and new Cloud/AI revenue streams emerging.
October 03, 2023 | 6:34 pm
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POSITIVE IMPACT
Alphabet's stock may see positive movement due to the Overweight rating and raised CAPEX Google Cloud revenue for FY24E and FY25E. The company's focus on AI and new product opportunities also paint a promising picture.
The Overweight rating from Piper Sandler analyst Thomas Champion indicates a positive outlook for Alphabet's stock. The raised CAPEX Google Cloud revenue for FY24E and FY25E, as well as the focus on AI and new product opportunities, suggest potential growth in Alphabet's revenue streams, which could positively impact the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100