"Pivotal Research lifted its price target to $400 (from $350) and reiterated a Buy rating. The firm described Google's search business as a "resilient cash cow" with strong pricing power. Pivotal also pointed to AI investments as a key driver, enabling Alphabet to reduce "massive costs" in search operations."
"Meanwhile, Truist raised its price target on Google shares to $350 (from $320) and likewise reaffirmed a Buy rating. Truist cited expectations of a strong U.S. holiday season for e-commerce and digital advertising. The firm believes that AI-optimized ad channels, combined with consumer strength and momentum in e-commerce, will lift ad revenue. Improved prospects in Google's "Other Bets" division also contributed to the target increase."
Two major firms raised price targets on Alphabet (NASDAQ: GOOGL) ahead of the holiday season, driven by core advertising strength, AI efficiencies, and seasonal momentum. Pivotal Research increased its target to $400 from $350 and reiterated a Buy rating, characterizing Google's search business as a "resilient cash cow" with strong pricing power and noting AI investments that reduce "massive costs" in search operations. Truist raised its target to $350 from $320 and reaffirmed a Buy rating, forecasting stronger U.S. holiday e-commerce and digital advertising and citing AI-optimized ad channels and improved prospects in Other Bets. Google closed at $317.62, down $2.01.
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