Alphabet (GOOGL) Target Lifted to $280 by TD Cowen as Search and Cloud Growth Stay Strong

Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks on the Market’s RadarOn October 8, TD Cowen analyst John Blackledge raised the price target on the stock to $280.00 (from $270.00) while maintaining a Buy rating.

According to the firm, its third-quarter digital advertising expert call held on October 2nd reflects that the company’s Search growth remains strong despite macro uncertainties. The firm also anticipates strong Cloud growth during the quarter.

TD Cowen’s third-quarter net revenue estimate of 14.6% year-over-year growth is 0.7% above consensus. Moreover, its operating income and earnings per share estimates (excluding the EC fine) are also above consensus, 4% and 6% respectively.

The firm will be keeping an eye on the company’s GenAI efforts, it said.

“We’ll look for updates on GOOG GenAI efforts, including ongoing AI Mode roll-out. We made minor tweaks to LT estimates (FY 25 estimates unchanged); PT to $280, maintain Buy.”

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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