Alphabet Inc. (NASDAQ:GOOG) is one of the best growth stocks to buy in 2026. On December 16, BMO Capital raised the firm’s price target on Alphabet to $343 from $340, while maintaining an Outperform rating on the shares. BMO is leaning into a more bullish outlook for Google Cloud, citing Cloud Expert calls that suggest a rapid acceleration in enterprise AI adoption. Reflecting this momentum, BMO Capital adjusted its Google Cloud growth targets upward for the coming quarters, peaking at 40% in the first quarter of the next year.
On the same day, Papua New Guinea confirmed that Google had been selected to construct three new undersea fiber-optic cables to modernize the nation’s digital infrastructure. The $120 million project is being fully funded by the Australian government under the provisions of the Pukpuk Treaty, a landmark mutual defense agreement signed in October 2025. This initiative, officially known as the Pukpuk Connectivity Initiative, aims to link PNG’s northern and southern regions to create a high-capacity, resilient digital backbone for the Pacific nation.
Earlier on December 11, Piper Sandler increased its price target for the company to $365 from $330 with an Overweight rating. Despite a premium valuation, analysts remain bullish due to the significant revenue contributions from Google’s AI-enhanced advertising suite.
A day before, on December 15, RBC Capital analyst Brad Erickson maintained a Buy rating on Alphabet with a price target of $315.
Alphabet Inc. offers various products and platforms in the US, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments.
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This article is originally published at Insider Monkey.
