Alphabet (GOOGL) PT Raised to $390 at Canaccord Genuity

Canaccord Genuity analyst Maria Ripps raised the price target on Alphabet (NASDAQ: GOOGL) to $390.00 (from $330.00) while maintaining a Buy rating.

The analyst commented, "Through the first eight months of 2025, the narrative around Google was centered around competitive pressures, lagging AI innovation, and regulatory challenges. Following a favorable ruling in the search antitrust case, the narrative rapidly shifted to search stability, an accelerating pace of AI innovation, and robust cloud growth underpinned by structural hardware advantages (i.e., TPUs), with Google seemingly more inclined after the search ruling to deploy new AI products and leverage its massive scale, resources, and data advantage to extend its competitive lead. Looking ahead, we expect Google to maintain this aggressive posture throughout 2026, doubling down on its efforts to further entrench AI into its ecosystem. While we do see the potential for some volatility in 1H26, when the first Blackwell-trained models are expected to launch and as the TPU supply chain is reportedly strained, we remain constructive on the stock for several reasons..."

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