BMO Capital analyst Brian Pitz raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $230 from $217 and keeps an Outperform rating on the shares. The firm is also increasing Search, GCP, and YouTube revenue following optimistic channel checks. PMax is improving ROAS for Search, while Gemini unlocks TAM potential, given its ability to handle complex queries, BMO tells investors in a research note. GCP is benefiting from middle-layer improvements with Gemini/Vertex AI. YouTube’s lower-funnel QR codes resonate well with advertisers, it adds.
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