Citigroup increased its price target on Alphabet (GOOGL) to $350.00, up from $343.00. The firm simultaneously reiterated a "buy" rating on the stock.
The revised target suggests a potential upside of 15.8% from recent trading levels. Other financial institutions have recently boosted their ratings or price targets, echoing this positive sentiment.
Analysts maintain a bullish stance, citing Alphabet's leadership in artificial intelligence. Key factors driving this optimism include the monetization of AI models, specifically Gemini, and the strong performance of the Google Cloud Platform. These upgrades reflect a belief in the company's growth trajectory heading into the new year.