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BMO Capital Boosts Google Cloud (GOOG) Outlook as Enterprise AI Adoption Hits Rapid Acceleration [Yahoo! Finance]
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to $343 from $340, while maintaining an Outperform rating on the shares. BMO is leaning into a more bullish outlook for Google Cloud, citing Cloud Expert calls that suggest a rapid acceleration in enterprise AI adoption. Reflecting this momentum, BMO Capital adjusted its Google Cloud growth targets upward for the coming quarters, peaking at 40% in the first quarter of the next year. On the same day, Papua New Guinea confirmed that Google had been selected to construct three new undersea fiber-optic cables to modernize the nation's digital infrastructure. The $120 million project is being fully funded by the Australian government under the provisions of the Pukpuk Treaty, a landmark mutual defense agreement signed in October 2025. This initiative, officially known as the Pukpuk Connectivity Initiative, aims to link PNG's northern and southern regions to create a high-capacity, resilient digital backbone for the Pacific nation. Earlier on December 11, Piper Sandler increased its pri
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