- Raymond James raised its price forecast for Alphabet citing strength in Google Cloud and AI.
- Analyst Josh Beck expects cloud revenue to grow 44% in 2026 and 36% in 2027, above consensus.
- The firm set a revised price target of $400, about a 21% gain from the stock’s current level.
- Alphabet has expanded AI across products including Gemini 3, YouTube, Gmail, Workspace, Google Maps, and Waymo.
- Google is pushing its TPUs as a chip rival to NVIDIA, which could reduce external chip reliance and support revenue growth.
Analysts at Raymond James raised their price forecast for Alphabet (GOOGL), citing momentum in Google Cloud and the company’s AI work as the key drivers. The move follows a modest market pullback, with GOOGL down about 1.4% over the past five days but up more than 5.7% since January 1, 2026.
In a report, analyst Josh Beck said the company is likely entering an improving AI narrative that could lift top-line growth. "We believe Google is likely entering a cycle of improving AI stack narrative and upward revisions that could create one of the highest quality top-line AI acceleration stories in the public universe," he wrote.
Beck projects Google Cloud revenue growth of 44% in 2026 and 36% in 2027, versus consensus estimates of 34% and 31%. Raymond James raised its price forecast to $400 for the stock, which would represent roughly a 21% increase from its current value.
The firm highlighted AI gains across multiple Alphabet services. Last year the company introduced Gemini 3, which improved coding, search, and image creation capabilities that feed into products such as YouTube, Gmail, Workspace, and Google Maps. The autonomous vehicle unit Waymo also forms part of the company’s AI footprint.
On hardware, Google is promoting its in-house accelerator chips (TPUs) as a growing rival to Nvidia. Beck noted that reducing dependence on external chip suppliers could further boost revenue. The recent market dip has been attributed broadly to economic concerns around tariffs, but GOOGL has gained roughly 66% over the past year, among the stronger performers in big tech.
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