TECH - Google's Growth Ignited by AI and Premium Video Ads Analyst Predicts Brighter Future | Benzinga
Stifel analyst Mark Kelley maintained Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) with a Buy and raised the price target from $154 to $174.
According to the analyst, Alphabet continues to drive growth at scale through strength in mobile search, YouTube, and programmatic advertising while investing in other vital initiatives (cloud, hardware, AI) that should serve as multi-year growth levers.
Kelley noted the competitive threat narrative as vastly overdone and expected Google’s AI capabilities to maintain an engaged user base. Google’s core business is highly utility and durable as a dominant leader in search and ad-supported online video.
He recommended GOOGL shares, given the supportive valuation on EPS and confidence in the company’s long-term growth opportunity.
The analyst’s advertising agency checks indicated ...