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."