Alphabet (GOOGL) PT Raised to $370 at Wedbush

Wedbush analyst Scott Devitt raised the price target on Alphabet (NASDAQ: GOOGL) to $370.00 (from $360.00) while maintaining an Outperform rating.

The analyst commented, "Concerns around the impact of genAI on the business are fading, and we are increasingly constructive on the longer-term durability of the segment. We see additional opportunity to unlock more use cases and drive incremental monetization. The company is already experimenting with ads in AI mode, and recent reports suggest Google will bring ads to Gemini this year. We also highlight partnerships that will further bolster the company’s offering, with Google serving as Apple's preferred Cloud provider while working to power the next Siri model. We maintain our Outperform rating while our PT rises to $370."

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