Alphabet (GOOGL) PT Raised to $196 at Truist Securities

Truist Securities analyst Youssef Squali raised the price target on Alphabet (NASDAQ: GOOGL) to $196.00 (from $190.00) while maintaining a Buy rating.

The analyst commented: "We remain constructive on GOOGL following stronger 2Q24 results, which reflect sustained strength across Search and Cloud with improving margins, even as mgmt aggressively invests in its highest growth priorities -- AI, Tech infra and YT. While still early to properly gauge the ROI on these investments, we're seeing green shoots in Search in terms of higher engagement, a prelude to greater monetization later this year and in FY25, and in terms of Cloud with "billions in revenue" from AI Infra and GenAI. GOOGL remains at the forefront of the AI race, which should fuel growth higher for longer, and drive shareholder value over time."

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