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Baird Reiterates Outperform on Alphabet Inc (GOOGL) as Mobile Innovation Continues


In a research report released Friday, Baird analyst Colin Sebastian reiterated an Outperform rating on shares of Alphabet Inc (NASDAQ:GOOGL), with a $780 price target, following recent news that Facebook has started allowing Google to crawl and index its mobile app. Additionally, the search giant unveiled technology that lets users search inside and use mobile apps without downloading them, its latest effort to extend its search-and-advertising machine on smartphones.

Sebastian observed, “While the majority of Facebook’s content will remain private (i.e., logged-in user activity, private posts, etc.), we highlight the new ties between Facebook and Google as...