Alphabet (GOOG) remained muted on January 5, trading near flat around $315, despite a significant price target increase to $365 (from $320) by Jefferies analyst Brent Thill.
- The upgrade, which maintained a Buy rating, was based on the company's growing AI market share and recent patent filings for custom Tensor Processing Units.
- The muted performance contrasted sharply with the broader market, as the S&P 500 and Nasdaq both advanced approximately 0.7-0.8%.