UnitedHealth tests AI system to streamline medical claims processing - Bloomberg
Investing.com - Evercore ISI raised its price target on Alphabet (NASDAQ:GOOGL) stock to $300 from $240 on Monday, while maintaining an Outperform rating on the tech giant. The stock currently trades at $235, near its 52-week high of $235.76, after delivering an impressive 56.47% return over the past year.
The price target increase follows Evercore’s sixth quarterly proprietary search survey, which suggests Google maintains its dominant position in commercial-intent search use cases despite rising general search competition.
Evercore’s research indicates Google’s generative AI innovations are creating "an overall better Search Engine for users," which the firm believes should translate into "consistently robust Search Revenue growth" for the company.
The investment bank’s channel checks have confirmed improving quality of search leads for marketers, supporting its outlook for double-digit percentage growth in Google Search revenue.
Evercore considers Alphabet its "Top Large Cap Long" investment, citing multiple growth catalysts including YouTube revenue acceleration, Google Cloud revenue stabilization above 30%, and Waymo’s robotaxi expansion, which together support a potential 20-25x price-to-earnings multiple.
In other recent news, Alphabet Inc. reported that the European Commission has imposed a €2.95 billion fine on its subsidiary Google LLC for violating European competition laws related to ad tech practices. The decision requires Google to stop certain activities deemed as "self-preferencing," and Alphabet plans to appeal this ruling while recording the fine as an accrual in its third-quarter financial statements for 2025. Meanwhile, Tigress Financial Partners has raised its price target for Alphabet stock to $280, maintaining a Strong Buy rating, citing the company’s AI-driven growth across major technology trends. BofA Securities has also reiterated its Buy rating with a $252 price target, highlighting reduced uncertainty following a recent court decision on search remedy. Additionally, Google CEO Sundar Pichai announced a $150 million allocation for AI education and digital wellbeing, part of a larger $1 billion commitment, at a White House event. This funding includes grants to organizations such as Code.org and the Flourish Fund. These developments reflect significant regulatory, financial, and strategic moves for Alphabet.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.