Analysts raised price targets for Alphabet (GOOGL) ahead of the Google I/O developer conference on May 19-20.
Oppenheimer increased its price target to $445. Bank of America reiterated a buy rating with a $430 target. Both firms cite momentum in AI and cloud businesses as primary drivers.
The I/O event features expected announcements for Gemini AI and 'Googlebook' AI-first laptops. The conference may also include updates on next-generation smart glasses.
Bullish sentiment follows Alphabet's strong first-quarter earnings. Expected AI innovations aim to support future growth and competitive positioning.