Wells Fargo upgraded Alphabet to Overweight and raised its price target to $387, citing the company's AI leadership following the release of the Gemini 3.1 Pro model for enterprise.
- Shares showed relative strength trading at $314.19, significantly outperforming major indices which fell over 1% during the session.
- Alphabet's valuation multiple has reached a 10-year disparity peak compared to Microsoft, marking a definitive shift in market positioning.