- Google stock (NASDAQ: GOOG) fell below $350 on Tuesday, reversing from a yearly high of $408 and drawing bearish sentiment.
- Citi analyst Ronald Josey reiterated a buy rating with a $447 price target, implying a ~28% upside from current levels.
- UBS analyst Stephen Ju maintained a hold rating but lowered his target to $400 from $410, still projecting a ~14% gain.
- Both investment banks predict double-digit growth for GOOG, contrasting with retail investors’ current skepticism.
On Tuesday, Alphabet’s Google stock (NASDAQ: GOOG) dropped below $350, drawing bearish sentiment after a rapid decline from a yearly high of $408 set after the earnings call. The stock briefly surged from $334 to $364 this month but is now pulling back, leaving investors hesitant to enter the AI giant.
However, global investment banks Citi and UBS have issued new price predictions that diverge sharply from retail pessimism. Citi analyst Ronald Josey reiterated a buy rating with a $447 price target, suggesting a return of approximately $97 per share and a 28% ROI from current prices. An investment of $1,000 could grow to $1,280 if the target is met.
Meanwhile, UBS analyst Stephen Ju reiterated a hold rating while reducing his price target from $410 to $400, still projecting a $50 gain per share. This implies a roughly 14% upside, turning $1,000 into $1,140. Both firms expect Google stock to deliver double-digit gains next, despite the current market downturn.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
