ALPHABET : adjusted price target at Jefferies
'We would remain long on Alphabet through the second half of the year, as we see it rising on improving momentum in the core advertising business and as visibility improves for the eventual (2025?) AI tailwind', it asserts.
For the first quarter, the broker expects a slight increase in advertising segments and online cloud revenues, although the 12% rise in the share price since the start of the year already reflects optimistic valuations, in his view.
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