Alphabet Inc. (NASDAQ: GOOGL) stock was reiterated as “Outperform” by BMO on October 9 with a raised price target of $294 per share. The firm praised the company’s leadership in Search, Cloud, and YouTube platforms, citing strength in core Search and Google Cloud Platform due to AI integrations.

Google is heavily investing in AI integration into Search, with AI Mode scaling to over 100 million monthly active users in the first 2 months. Expert checks suggest that Google’s new AI search features are reducing organic/SEO traffic for publishers, leading to increased reliance on paid ads, benefiting Google and the advertising industry.

Furthermore, Google Cloud Platform is positioned for growth with AI product integrations and increasing AI-native workloads. Alphabet Inc. (NASDAQ: GOOGL) is a multinational technology conglomerate owning Google among other businesses. Despite the potential of GOOGL as an investment, some AI stocks may offer greater upside potential with less downside risk.

Read more at Yahoo Finance: Alphabet (GOOGL) Gains Momentum in AI Search and Cloud; BMO Ups Price Target to $294