Citizens Touts Alphabet Inc. (GOOGL) Waymo's Technology Licensing Push as Truist Securities Echoes Ad Revenue Growth

Alphabet (NASDAQ:GOOGL) is one of billionaire David Tepper’s top stock picks heading into 2026. On December 10, analysts at Citizens reiterated a Market Perform rating on Alphabet (NASDAQ:GOOGL) and set a $340 price target.

The research firm has echoed the company’s push to license its self-driving car technology to automakers under the Waymo brand. According to the research firm, the decision could allow vehicle owners to switch to ride-sharing networks when not using their cars.

Citizens expect partnerships with original equipment manufacturers to enable Waymo to scale vehicle production. The technology licensing drive is also likely to result in a new revenue stream that should bolster the current one, which stands at $385.5 billion over the past 12 months.

Meanwhile, analysts at Truist Securities reiterated a Buy rating on the stock on December 5 and raised the price target to $350 from $320. The research firm expects the company to capitalize on high US ecommerce spending and digital ad spending in the holiday season, driven by resilient customers. Consequently, it expects the company to generate higher advertising revenues driven by strong momentum in e-commerce.

The remarks come from Alphabet’s Google, announcing on December 10 the appointment of Amin Vahdat as the chief technologist for AI infrastructure. The appointment comes as the company ramps up spending on data centers and hardware to support AI workloads.

Alphabet Inc. (NASDAQ:GOOGL) is a tech conglomerate and the parent company of Google, overseeing diverse businesses from search, ads, and YouTube (under Google) to “Other Bets” like self-driving cars (Waymo), health tech (Verily), and drone delivery (Wing).

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Disclosure: None. This article is originally published at Insider Monkey.