Truist Raises Target on Alphabet (GOOGL) to $350 on Holiday Ad Strength and Waymo Upside

Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks on the Market’s Radar. On December 5, Truist Securities raised its price target on the stock to $350.00 from $320.00 while maintaining a “Buy” rating. The price target raise reflects robust holiday momentum and upside from Waymo expansion.

According to the firm, this holiday season will likely lead to a record high US e-commerce and digital Ad spending driven by a robust job market and AI-enhanced advertising.

The firm has raised its price target for Google driven by higher advertising revenues as holiday season e-commerce demand remains robust. A smaller part of the increase reflects improved long-term expectations for Other Bets in the outer years from Waymo’s expansion into more cities across the country.

“As such, we’re raising our FY26 price target to $350 from $320.”

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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