Alphabet (GOOGL) PT Raised to $333 at Stifel

Stifel analyst Mark Kelley raised the price target on Alphabet (NASDAQ: GOOGL) to $333.00 (from $292.00) while maintaining a Buy rating.

The analyst comments "Google posted a healthy 3Q top line (Ads + Cloud revs both ahead), though corporate-level operating margins came in slightly lighter than expected. FY25 capex was raised by +$7mn at the mdpt, and mgmt expects a "significant" capex increase in 2026. Cloud was the standout segment this quarter with revenue growth acceleration of +184bps in 3Q, backlog grew +46% q/q (year-over-year growth accelerated >4000bps), and operating margins continue to improve. The advertising business outperformed as well, particularly YouTube, with growth on new surfaces like CTV and Shorts (now monetizing better than traditional YT) contributing to revenue growth acceleration. AI commentary was generally positive and we believe investors are continually becoming more comfortable with where Google might fit in this new era of compute. We think there is still more to go here, we adjust our estimates slightly and account for higher capex; our TP goes to $333."

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