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This Top Analyst Is Bullish on Alphabet Inc (GOOGL) Amid Apigee Acquisition

This morning, Alphabet Inc (NASDAQ:GOOGL) announced plans to acquire API management platform Apigee for a total of $625 million or $17.40 per share in cash. Apigee currently boasts 300 enterprise customers, including notable clients like Walgreens, AT&T, Burberry, First Data, and Live Nation.

Baird top analyst Colin Sebastian sings the praises of Google’s new leadership, commending cloud chief Diane Greene for guiding the tech giant in the direction of a “more aggressive Cloud strategy.” As such, the analyst reiterates an Outperform rating on GOOGL with a price target of $900, which represents a 12% increase from where the shares last closed.

Sebastian comments, “We note...