Alphabet's AI Initiatives, Strong Ad Performance Fuel Optimism: Analyst

Keybanc Capital Markets analyst Justin Patterson maintained Google parent Alphabet Inc GOOGL with an Overweight rating and raised the price forecast from $195 to $215 on Wednesday.Patterson raised his expectations for the ad industry ahead of second-quarter results, reflecting a stable macro environment and positive product cycles. The analyst noted that stocks, including Alphabet, are starting to price in potential upside, with focus on AI initiatives, advertiser momentum and expense efficiencies.Also Read ...