Bank of America has highlighted Google's recent strides in artificial intelligence, particularly noting the company's expanding Gemini integration throughout its services. Google's recent AI developments mark a shift from mere testing and partial integration to a comprehensive AI Mode available to the public. This transition suggests that Google is stepping up its game in response to competition, specifically targeting rival OpenAI by embedding a competitive AI product into its search functionalities.
BofA analysts believe that Google's capabilities in language model innovation are catching up, and the company is now on the offensive, enhancing AI's role in search features. According to BofA, these advancements represent a significant strategic move for Google, akin to its "Reels moment." The firm maintains a Buy rating for Alphabet's stock (GOOG, Financial) and has set a price target of $200, reflecting confidence in the company's AI-driven growth trajectory.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Alphabet Inc (GOOG, Financial) is $201.56 with a high estimate of $225.00 and a low estimate of $185.00. The average target implies an upside of 21.92% from the current price of $165.32. More detailed estimate data can be found on the Alphabet Inc (GOOG) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Alphabet Inc's (GOOG, Financial) average brokerage recommendation is currently 1.6, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Alphabet Inc (GOOG, Financial) in one year is $197.37, suggesting a upside of 19.39% from the current price of $165.32. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Alphabet Inc (GOOG) Summary page.
