Alphabet Gets Buy Rating from Rosenblatt

Rosenblatt has initiated coverage on Alphabet Inc. (no ticker mentioned) with a buy rating and set a price target of $410, suggesting upside potential from its current price of $344.72.

The firm assumes coverage from another analyst and cites Alphabet's position as a leading hyperscaler in the artificial intelligence cycle.

Rosenblatt said the re-rating from search concerns has largely played out and Alphabet is now being compensated for its role in AI infrastructure.