Wedbush Analysts Bullish On Google, Say 'Encouraged' By Generative AI Stack, 'Unmatched Breadth Of Data' And Gemini Advancements
Portfolio Pulse from Rounak Jain
Wedbush analysts are optimistic about Alphabet Inc.'s (GOOG, GOOGL) advancements in AI, highlighted by the unveiling of new products and partnerships at the Google Cloud Next event. The firm maintains an 'Outperform' rating with a target price of $175, citing Google's generative AI stack, custom chips like Axion, and the Gemini 1.5 Pro model as key growth drivers. Despite a short-term dip in share price, Wedbush sees a potential 15% rally in tech stocks in 2024, with Google playing a pivotal role.
April 10, 2024 | 1:31 pm
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Wedbush maintains an 'Outperform' rating on Alphabet Inc. with a target price of $175, citing advancements in AI and new product unveilings as key growth drivers.
Wedbush's optimism stems from Google's AI advancements, particularly the Gemini 1.5 Pro model and custom chips like Axion, which are expected to drive growth. Despite a short-term dip, the firm's positive outlook and target price suggest a bullish stance on Google's stock in the near term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Wedbush maintains an 'Outperform' rating on Alphabet Inc. with a target price of $175, citing advancements in AI and new product unveilings as key growth drivers.
Wedbush's optimism stems from Google's AI advancements, particularly the Gemini 1.5 Pro model and custom chips like Axion, which are expected to drive growth. Despite a short-term dip, the firm's positive outlook and target price suggest a bullish stance on Google's stock in the near term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100