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Alphabet: UBS raises the bar after quarterly earnings.

(CercleFinance.com) - On Friday UBS reiterated its "buy" rating on Alphabet and raised its target price on the shares from 1,080 dollars to 1,165 dollars after the parent company of Google released its quarterly results.

In a research report sent to clients, UBS describes Alphabet as a unique collection, harvesting growth in its core operations at healthy margins and re-deploying the cash into a series of long-term opportunities.

These opportunities, such as cloud computing, artificial intelligence/hardware/software, media consumption, Waymo), are still at their early days in their overall contribution to P&L, although the market seems to be attributing little-to-no value to these opportunities, UBS writes in the report.

In this context, the broker stands by its constructive long-term view, driven by the company's positioning towards the future of both consumer and enterprise computing trends, at a "reasonable valuation."

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