Alphabet Class C, the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst Doug Anmuth from J.P. Morgan reiterated a Buy rating on the stock and has a $395.00 price target.
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Doug Anmuth has given his Buy rating due to a combination of factors tied to Alphabet’s operating strength and long-term earnings power. He underscores that core Search is reaccelerating, Cloud is scaling rapidly with a sharply higher backlog, and AI-driven products are deepening user engagement and opening new advertising and monetization avenues that can support durable revenue and margin growth.
At the same time, Anmuth views the substantial step-up in capital spending as an offensive investment backed by a very strong balance sheet and industry-leading cash-generation capacity. He argues that the current valuation, anchored around mid‑20s to high‑20s multiples on projected 2027 GAAP EPS, does not fully reflect Alphabet’s differentiated full‑stack AI position and the visibility implied by its expanding Cloud backlog, supporting his Overweight rating and $395 price target on the Class C shares.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $370.00 price target.