Alphabet stock target adjusted to $210, buy recommended

Alphabet, the parent company of Google, is still a popular player in the tech industry. Despite being one of the oldest internet companies, it continues to show strong growth and profitability, especially from its search business. Recently, John Blackledge, a Wall Street analyst from TD Cowen, released a new report. He lowered his price target for Alphabet's Class C shares to $210 from $220. Even with this slight cut, he remains optimistic about the company's prospects and keeps a “buy” recommendation. Blackledge believes that Alphabet is set to increase its spending on artificial intelligence (AI). This move, he claims, will boost Google's Cloud business and help it stand out in a competitive market. He sees potential for Alphabet to achieve over a 30% increase from its current stock price based on this target. Alphabet is involved in various sectors beyond search. The company is also making strides in AI, cloud computing, and autonomous driving technology. With these diverse interests, Alphabet is well-positioned for continued growth.