Deutsche raised its price target on Alphabet citing more confidence surrounding Google Cloud.

"We think the shares currently discount limited value for Google Cloud given it is losing money, and capitalizing Google Cloud Platform at 15x revenue and G-Suite at 5x revenue on 2022, we see the overall Google Cloud business worth $225B today, just shy of $325/share, up from the $205/ share we used in our August note on mega-cap SOTP valuations. .. .In light of our more confident outlook around Google Cloud, we increase our 12-month target price on Google's shares to $1,600 (up from $1,475 previously), on slightly higher estimates and rolling out target price multiples to a blend of 2020 and 2021 metrics."