Cantor Fitzgerald Reiterates Neutral Rating on Alphabet (GOOGL)

Cantor Fitzgerald analyst Deepak Mathivanan reiterated a Neutral rating and $171.00 price target on Alphabet (NASDAQ: GOOGL).

The analyst commented, "In the past week, GOOGL hosted its annual I/O and Marketing Live conferences, where the company rolled out a long list of new products in its family of apps. Notable announcements from I/O, in our view, include: 1) launch of AI Mode for US search users, 2) integration of agentic capabilities into various apps & services including Gemini app, AI Mode, and Chrome soon, 3) new Gemini Ultra subscription tier with Project Mariner, and 4) XR glasses for immersive AI experiences. At Marketing Live, the key announcements include 1) expansion of ads in AI Overviews and launch of ads in AI Mode, 2) creative iteration with Veo 3 and Imagen 4, and 3) new agentic capabilities for campaign management. GOOGL’s strong tech and infra capabilities were never in doubt and I/O made it abundantly clear that the company is willing to accelerate deployments of GenAI experiences into core products to improve user experience and defend share against competing GenAI products. We came away sensing an increased level of urgency at GOOGL post this I/O event. While some of the product launches are likely to take time before seeing meaningful adoption, we are incrementally positive on GOOGL shares post I/O. Shares outperformed the Nasdaq by 4-pts during the past week."

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 $168.47 yesterday.

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