- Google stock (NASDAQ: GOOG) opened at $350 Tuesday after a 2.3% rise from $340 over five sessions.
- Tigress Financial raised its price target to $485 from $415, representing a potential 38% ROI from the current price.
- Google’s Gemini AI is narrowing the gap with OpenAI’s ChatGPT by 3%, which could boost Alphabet’s valuation.
Alphabet’s Google stock (NASDAQ: GOOG) opened Tuesday’s trading session at $350 after a 2.3% uptick in five sessions from a low of $340. Analysts believe the stock is consolidating before breaking above the $400 zone, a level it hasn’t reached in four months since falling from a yearly high of $408 in mid-May. This sideways grind has tested investor patience, as no meaningful gains have been seen since then.
Consequently, investment banking firm Tigress Financial has raised its price target to a bullish $485. Ivan Feinseth, the firm’s Chief Investment Officer, reiterated his buy rating and boosted the target by $70 from the previous $415. If the prediction holds, traders could see a profit of $135 per share—a 38% return on investment from the current $350 price.
Meanwhile, a $1,000 investment would turn into $1,380 under that scenario. Google’s Gemini AI is also closing the gap with OpenAI’s ChatGPT by 3%, and if it outpaces its competitor, Alphabet stock could see a massive jump in value.
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