JPMorgan has expressed an increasingly optimistic outlook towards Google following the company's recent I/O event. The firm highlights Google's leadership in the field of artificial intelligence, especially with its Gemini project, which is highly regarded in the foundational model rankings. According to the analyst, Google's integration of AI into its search capabilities—leveraging technologies from projects like Astra, Mariner, and Deep Research—demonstrates significant innovation. Furthermore, Google's AI Mode, set to enhance search experiences for U.S. users, is rolling out just a year after the introduction of AI Overviews. This progress reinforces JPMorgan's belief in Google's ability to successfully adapt to AI advancements. The firm maintains an Overweight rating for Alphabet, Google's parent company, with a price target of $195.
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.
