Jefferies Sees Alphabet’s (GOOGL) Data Moat and Cloud Growth Driving Long-Term Upside

Alphabet Inc. (NASDAQ:GOOGL) is among the best software infrastructure stocks to buy according to hedge funds. On January 5, Jefferies reaffirmed its Buy rating but raised its price target on the stock from $320 to $365. As per the update, there were a number of factors that bolstered Jefferies’ positive case, and the first one among them was the “unrivaled data moat” that Alphabet Inc. (NASDAQ:GOOGL) has. Another factor was the company’s capability to sustain Gemini’s dominant position. The firm believes ...