The call paired a more bullish rating with a lower target from $450, citing strong advertising growth, cloud AI expansion and long-term confidence in AI.
Phillip Securities upgraded GOOGL to Accumulate while lowering its price target to $425 from $450. The firm cited strong ad growth, expansion in cloud AI and long-term confidence in AI as the basis for the more constructive rating, effectively framing the stock as more attractive despite a reduced valuation target.