Citi has increased its price target for Alphabet (GOOG, Financial) from $200 to $203, maintaining a Buy rating on the stock. This adjustment follows insights gained during the Cannes Lions International Festival of Creativity, where Citi noted positive trends in the online advertising sector. The firm's optimism is buoyed by advancements in artificial intelligence and significant growth drivers in the web domain.
The analysis predicts an enhancing digital advertising landscape, with growing adoption of generative AI as marketers prepare for an increasingly automated world. This outlook has led Citi to revise its projections upwards for companies like Meta Platforms, Reddit, and Pinterest, alongside Alphabet. The overall sentiment in the sector appears to be increasingly optimistic.
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 21.41% from the current price of $166.01. More detailed estimate data can be found on the Alphabet Inc (GOOG) Forecast page.
Based on the consensus recommendation from 21 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 $198.49, suggesting a upside of 19.57% from the current price of $166.01. 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.
