Alphabet (GOOG) closed slightly lower at $309.32 but received significant target raises from multiple analysts, including TD Cowen to $350 and Piper Sandler to $365, citing strong engagement with AI Mode and AI Overviews.
- Regulatory risks in Europe and the U.S. continue to temper the overall positive sentiment regarding AI upside in Search and Cloud.
- Evercore ISI also raised its target to $325 (Outperform), contributing to the current consensus target of approximately $314.
- Positive sentiment is further bolstered by expectations of a potential $100 billion quarter and continued growth in the Cloud and Waymo segments.