Shares of Google parent Alphabet (GOOGL) climbed Friday as several analysts raised their price targets for the stock after the tech giant delivered 澳洲幸运5官方开奖结果体彩网:better-than-expected quarterꦍly results and touted the early success of AI features.

Alphabet's Class A shares were up close to 3% near $164 in recent trading, propelling it into the ranks of the best-performing stocks on the 澳洲幸运5官方开奖结果体彩网:S&P 500 Friday. (Read Investopedia's live coverage of 澳洲幸运5官方开奖结果体彩网:today's market action here.)

Citi analysts raised their price target to $200 from $195, pointing to growing usage and monetization of AI features in Search, including AI Overviews, which Google said has reached 1.5 billion monthly users roughly a year after launch. “We believe Google’s GenAI search tools are gaining traction,” Citi said. 

Bank of America, which likewise raised its price target to $200, said Google also “has data and distribution advantages” against rivals like ChatGPT developer OpenAI in terms of driving AI usage growth.

Wedbush boosted its target to $200 as well, calling out Google’s growth potential “as investors gain more comfort related to the current macro environment, regulatory risk, and the impact of generative AI on Google Search.”

Meanwhile, Jefferies analysts reiterated a price target of $200, while JPMorgan maintained a target of $195.

CFO Anat Ashkenazi said during the company’s earnings call Thursday that Alphabet still plans to spend 澳洲幸运5官方开奖结果体彩网:$75 billion in capital expenditures this year, most of which is expected to go toward building out the company's AI infrastructure. The investments “should help us have a more resilient organization, irrespective of macroeconomic conditions," Ashkenazi said.