More than a dozen analysts upgraded their price target for Alphabet stock to $150 or higher following earnings, per FactSet, which would be the highest price in the stock’s 19-year history.
Among the most bullish on Alphabet was Jefferies analysts led by Brent Thill, who raised their target for the stock from $150 to $165 and declared Alphabet proved it won’t be a “generative AI casualty.” Jefferies’ rating implies 27% upside and predicting the company’s market capitalization will surge past $2 trillion for the first time in its history.
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