Alphabet (GOOGL) Stock in Focus After Truist Boosts Price Target on Search Dominance

Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks in Focus on Wall Street. On September 22, Truist reiterated the stock as “Buy” and raised its price target to $285 per share from $225.

Analysts remain positive on the stock highlighting that Google still controls 90% of the Search market despite new Gen-AI platforms growing in users and usage.

AI platforms are gaining users but drive merely 1% of total referral traffic and immaterial conversions so far.

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“We remain constructive on GOOGL as we believe the company continues to dominate the Search mkt at 90%+ even as new Gen-AI platforms are growing users & usage. Our analysis suggests that Google dominates the all-important commercial queries while AI search accounts for only ~1% of total referral traffic and an immaterial % of conversions so far. A look at growth in online search volume & use cases suggests the advent of AI chatbots is expanding search’s TAM not cannibalizing it. Interestingly, Google’s AIO prioritizes informational queries over commercial intent, minimizing its impact on ad revenue. We’re introducing FY26 quarterlies & moving our PT to $285 for FYE26.”

Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.

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