Canaccord Genuity Lifts PT on Alphabet Inc. (GOOGL) to $390 From $330, Here’s Why

Alphabet Inc. (NASDAQ:GOOGL) is one of the best major stocks to invest in right now. On January 7, Canaccord Genuity lifted the price target on Alphabet Inc. (NASDAQ:GOOGL) to $390 from $330 and maintained a Buy rating on the shares, telling investors that while it is exercising near-term caution, in part attributed to the stock’s recent run, the firm continues to have high conviction on the company in the long term. It cited the continual and rapid scaling of the Gemini chatbot, with Similarweb data showing most recently an over 18% rise in Gemini’s share of generative AI web traffic. The firm added that the recently launched Gemini 3 Flash model may prove to be a gamechanger by making frontier-comparable performance available at a highly attractive cost.

Alphabet Inc. (NASDAQ:GOOGL) also received a rating update from Wolfe Research on January 5, raising the price target on the stock to $380 from $350, while keeping an Outperform rating on the shares. The firm believes that 2026 may prove to be a positive year for Internet Stocks. However, as much outperformance as the last three years might not be possible, given the current, elevated multiples for some of the firm’s coverage.

Alphabet Inc. (NASDAQ:GOOGL) is a holding company with segments including Google Services, Google Cloud, and Other Bets. The Google Services segment operates various services and products, including Android, Google Maps, Google Play, Chrome, Search, and YouTube.

While we acknowledge the potential of GOOGL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GOOGL and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.