"KeyBanc analyst Justin Patterson reiterated his 'Overweight' rating while lifting the price target to $380 from $370, implying an upside of about 11% from the stock's last closing price of $341."
"Accelerating cloud growth, coupled with steady expansion in core search revenues, is expected to sustain double-digit growth and support higher profitability over the next several years."
"The combination of AI-driven innovation and cloud momentum is also helping justify a higher valuation multiple, particularly in the mid-to-high 20s range on a forward earnings basis."
"A consensus rating among analysts stands at 'Strong Buy,' with an average 12-month price target of $385.97, representing a potential gain of nearly 13%."
A Wall Street analyst has reaffirmed a positive outlook for Alphabet, raising the price target to $380 based on strong performance in Google Cloud. The analyst expects double-digit growth driven by cloud expansion and AI monetization. Earnings per share are projected to approach $14 by 2027. The consensus among analysts is a 'Strong Buy' with an average price target of $385.97, indicating potential gains. The positive sentiment is supported by Alphabet's diversified revenue streams and leadership in digital advertising.
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