Alphabet (GOOGL) Target Lifted to $280 by TD Cowen as Search and Cloud Growth Stay Strong

Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks on the Market’s Radar. On October 8, TD Cowen analyst John Blackledge raised the price target on the stock to $280.00 (from $270.00) while maintaining a Buy rating.

According to the firm, its third-quarter digital advertising expert call held on October 2^nd reflects that the company’s Search growth remains strong despite macro uncertainties. The firm also anticipates strong Cloud growth during the quarter.

TD Cowen’s third-quarter net revenue estimate of 14.6% year-over-year growth is 0.7% above consensus. Moreover, its operating income and earnings per share estimates (excluding the EC fine) are also above consensus, 4% and 6% respectively.

The firm will be keeping an eye on the company’s GenAI efforts, it said.

“We’ll look for updates on GOOG GenAI efforts, including ongoing AI Mode roll-out. We made minor tweaks to LT estimates (FY 25 estimates unchanged); PT to $280, maintain Buy.”

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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