In a report released today, John Blackledge from TD Cowen maintained a Buy rating on Alphabet Class C, with a price target of $220.00.
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John Blackledge’s rating is based on Alphabet’s strong financial performance and strategic investments in AI infrastructure. The company’s revenue exceeded expectations, with notable growth in both the Search and Cloud segments. The Cloud revenue, in particular, accelerated significantly, driven by increased AI and non-AI workloads, indicating robust demand and future growth potential.
Additionally, Alphabet’s management has raised its capital expenditure guidance for 2025, reflecting confidence in continued expansion and innovation, particularly in AI infrastructure. The increase in AI Overview users and search query growth further supports the positive outlook. These factors combined led John Blackledge to maintain a Buy rating for Alphabet Class C stock, with an increased price target.
In another report released yesterday, Guggenheim also maintained a Buy rating on the stock with a $210.00 price target.