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Alphabet (GOOGL) Stock: Analyst Boosts Price Target to $375 on Cloud Growth

Stock Analysis

TLDR

  • Guggenheim analyst Michael Morris raised Alphabet’s price target from $330 to $375 while maintaining a Buy rating
  • Google Cloud ended Q3 with a $155 billion backlog, showing 46% sequential growth driven by enterprise AI demand
  • Analyst believes Wall Street underestimates Cloud revenue potential by roughly $40 billion based on backlog expansion
  • YouTube maintains streaming leadership with improving monetization and Google Gemini shows fast-growing adoption metrics
  • GOOGL stock has climbed 68% year-to-date and 13% over the past month
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