TD Cowen Sees Upside in Alphabet (GOOGL) With Rising GenAI Adoption

Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks Analysts Are Tracking Closely. On September 16, TD Cowen raised the price target on the stock to $270 from $240 while maintaining its Buy rating on the shares. The rating affirmation follows the firm’s GenAl Public Cloud Survey.

The 2025 GenAI Public Cloud Survey has revealed that Google Cloud Platform (GCP) is the second-place choice for companies considering additional cloud providers.

Survey results demonstrate that Google Cloud Platform, or GCP, had a solid showing. However, there is still a gap between GCP and market leaders Amazon’s (AMZN) Amazon Web Services, or AWS, and Microsoft’s (MSFT) Azure.

GCP awareness remained in third place in this year’s survey at 80%, compared to 94% overall for AWS and 93% for Azure. The metric was strongest in the Enterprise group, with 88% of respondents, as opposed to 70% to 80% for all other business groups.

Blackledge also noted that Google’s Gemini was the second most popular generative Al large language model, or LLM, providers.

“We asked respondents which companies provide underlying LLMs for their GenAl tools, and Google was the 2nd most commonly-used provider (54% of respondents, rising from 50% in our 2024 survey). Meanwhile, OpenAl was the top choice (73% of respondents), but declined somewhat vs 82% in our prior year’s survey, perhaps indicating a shift towards a wider array of LLM providers.”

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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Disclosure: None.