TECH - Wedbush's Dan Ives Bullish On Alphabet Raises Target Price: 'Perceived Structural Risks To Google Search Are Overstated' | Benzinga
Wedbush analysts Dan Ives and Scott Devitt believe that the risks of AI to Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) crown jewel, Google Search, are "overstated."
What Happened: Google has been added to Wedbush’s Best Ideas List (BIL), with the target price being raised from $160 to $175 with an "outperform" rating.
In a note seen by Benzinga, Wedbush asserts that Alphabet could be a potential beneficiary of generative AI.
"We believe the perceived structural risks to Google Search are overstated and continue to view Alphabet as a net beneficiary of generative AI."
My colleague Scott Devitt and myself this am: adding Alphabet to the Wedbush Best Ideas List and are raising our TP to $175 from $160. We believe the perceived structural risks to Google Search are overstated and continue to view Google as a net beneficiary of generative AI🔥🐂🍿