Jefferies raised the firm’s price target on Alphabet to $200 from $180 and keeps a Buy rating on the shares. Search and YouTube ads accelerated for the fifth quarter, while Cloud also accelerated for the second quarter in a row, notes the firm, which adds that the “2 biggest surprises may have been” operating margin being up about 500 basis points quarter-over-quarter and FY24 capex being guided as likely to jump about 50% year-over-year with AI as the main driver.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOOGL:
- TikTok Ban: ByteDance Gears Up for a Legal Showdown
- TipRanks’ All-Star Analyst – Who is the Best on GOOGL Stock?
- Alphabet (NASDAQ:GOOGL): The Overlooked Magnificent Seven Stock Is Now Thriving
- GOOGL Earnings: Alphabet Soars 11% amid Earnings Beat, New Dividend
- Options Volatility and Implied Earnings Moves Today, April 25, 2024
