TD Cowen Reiterates Buy on Alphabet (GOOGL), Sees Waymo Launches Accelerating in 2026

Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks Analysts Are Watching. On January 22, TD Cowen analyst John Blackledge reiterated a Buy rating on the stock with a $355.00 price target. The firm cited accelerated market expansion plans for the company’s autonomous vehicle unit Waymo.

In an investor note, the firm said that it is raising its Waymo estimates to reflect an accelerating pace of market launches in 2026. It now anticipates that an estimated 6000 vehicles will be offering paired rides across 17 cities by the end of 2026.

A fleet of cars parked at a car rental company’s headquarters, symbolizing the company’s commitment to servicing its customers.

These will lead to 28 million paid rides and gross bookings of $463 million, equivalent to about 0.7% of the US rideshare market. Besides the 12 expected city launches in 2026, Waymo is also testing several other markets, TD Cowen noted.

We left GOOG est’s unchanged; PT remains at $355.

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

While we acknowledge the risk and potential of GOOGL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GOOGL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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