Posted 1/29/2024, 6:34:02 PM
Bank of America Bullish on Alphabet's AI Future; Raises Price Target to $175
- AI is a key theme for Alphabet (GOOGL) stock in 2023 according to Bank of America analyst Justin Post
- Post forecasts strong Q4 results with revenue beating estimates due to ad recovery and AI tools driving spend
- Post raises his GOOGL price target to $175 based on continued AI progress and upside to estimates
- Post sees search revenue growth decelerating but still strong at 12% year-over-year in Q1
- The Wall Street consensus rating on GOOGL stock remains a Strong Buy with moderate 5% upside