Susquehanna analyst Shyam Patil raised the price target on Alphabet (NASDAQ: GOOGL) to $2,000.00 (from $1,850.00) while maintaining a Positive rating.

The analyst commented, "GOOGL rebounded nicely with the broader digital ad environment. Search grew 7% y/y ex FX, and YouTube had a blowout quarter with 33% y/y ex FX revenue growth. Barring an unexpected turn for the worse in the macro, GOOGL should continue to see accelerating trends in 4Q. We continue to remain positive on: 1) the secular ad growth story driven by mobile search and YouTube, 2) the Cloud ramp, 3) generally better expense management, and 4) a more shareholder-friendly capital allocation approach."