Truist Securities: 'We remain constructive on Alphabet (GOOGL)'

Truist Securities analyst Youssef Squali reiterated a Buy rating and $420.00 price target on Alphabet (NASDAQ: GOOGL).

The analyst commented: "3Q Results to Reflect Sustained Growth in Search/YT and Acceleration in Cloud; We remain constructive on GOOGL into the 3Q print on 10/28 as we expect mid-20%s top line growth, relatively in-line with Street expectations and with 2Q levels, showing that Search TAM continues to expand thru gen-AI surfaces, fueled by query volume & higher CPCs even as competing AI agents rise in popularity (we believe GOOGL maintained 90%+ Search share in the quarter). GOOGL's results should be fueled by user engagement & ad demand driving mid-teens growth in Search, LDD % growth for YT and further acceleration in Cloud to 90% Y/Y. FY27 Capex growth remains a key topic (we're at +40% Y/Y). We maintain Buy rating/$420 PT."

For an analyst ratings summary and ratings history on Alphabet click here. For more ratings news on Alphabet click here.

Shares of Alphabet closed at $340.28 yesterday.

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