Why Morgan Stanley Thinks Alphabet’s (GOOGL) Innovation Cycle Isn’t Priced In Yet

Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks Making Waves on Wall StreetOn July 24, Morgan Stanley reiterated the stock as “Overweight” and raised its price target to $210 per share from $205 following Alphabet’s latest earnings report on Wednesday.

Analyst Brian Nowak is optimistic about Google’s accelerating cloud revenue growth and its updated AI-based engagement metrics.

“Search, YouTube and Google Cloud all accelerated as GenAI-enabled innovation is driving faster growth,” he wrote in a Thursday note to clients. “Our EPS ests are largely unchanged (revenue higher offset by higher D & A/investment) but we remain OW as this accelerated pace of innovation sets up GOOGL for more durable multi-year growth.”

Why Morgan Stanley Thinks Alphabet’s (GOOGL) Innovation Cycle Isn’t Priced In Yet

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Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.

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