BMO Capitalanalyst Brian Pitz reiteratedGoogleparentAlphabet(NASDAQ:GOOGL) with an Outperform and a $215 price target.
The analyst said Google I/O contextualized how Alphabet will integrate and monetize over twenty years of AI initiatives and pursue the first big search transformation in as many years with Project Astra.
Pitz noted, specifically, the monetization of AI Overview improving ROAS, the cost to serve declining 80%, and Gemini integrating at the OS level across smartphones.
Bears likely argued that recent OpenAI multimodal Agent demos are more advanced, but he argued that GOOGL leverages significant scale advantages and ecosystem integration over...
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