BMO Capital raised the company’s price target for Alphabet (GOOG) (GOOGL) from $217 to $230 and maintains an Outperform rating on the stock. The company is also increasing revenue from search, GCP and YouTube after optimistic channel audits. PMax improves search ROAS, while Gemini unlocks TAM potential given its ability to handle complex searches, BMO told investors in a research note on Friday. GCP benefits from mid-tier improvements with Gemini/Vertex AI. YouTube’s lower-funnel QR codes are resonating well with advertisers, it adds.
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