Guggenheim raised the firm’s price target on Alphabet (GOOG) (GOOGL) to $375 from $330 and keeps a Buy rating on the shares. While the firm believes that the company’s recent share appreciation reflects positive sentiment, it sees “a plausible bull case” at Cloud that would indicate consensus under-appreciates run-rate revenue potential by about $40B based on backlog growth, says the analyst, who is raising 2026 and 2027 revenue and profit estimates for Alphabet, driven primarily by upward revisions to Google Cloud segment revenue and further margin expansion.
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