Tigress Financial Partners analystthinks that the growing integration of AI functionality will help Alphabet maintain its dominant position across all key technology trends, including search, mobile, cloud, data center, home automation, autonomous vehicle tech and more.
He also expects the company to benefit from the increased integration of its Android operating system into Internet of Things devices. It will also benefit from Android's adoption by several leading automotive original equipment manufacturers as the key driver of their infotainment platforms. Further, GOOGL continues to build and strengthen its product portfolio through strategic acquisitions and collaborations, including those focusing on AI technology. Indeed, the company is a backer of AI startup"GOOGL's strong balance sheet and cash flow enable the ongoing funding of key growth initiatives, strategic acquisitions, and the further enhancement of shareholder returns through ongoing share repurchase," said Feinseth.
Feinseth increased his price target for GOOGL to $172 from $160 and maintained a buy rating on the stock. The analyst holds the 201st position among more than 8,500 analysts on TipRanks. His ratings have been profitable 61% of the time, with each rating delivering an average return of 13.2%. (See