Alphabet price target raised to $390 from $330 at Canaccord

Canaccord analyst Maria Ripps raised the firm’s price target on Alphabet (GOOGL) to $390 from $330 and keeps a Buy rating on the shares. The firm said said while they are more cautious in the near-term, in part due to the stock’s recent run, they continue to have high conviction on the name longer-term. The Gemini chatbot continues to scale rapidly, with Similarweb data most recently finding Gemini’s share of generative AI web traffic has grown to over 18%, and the recently launched Gemini 3 Flash model could be a gamechanger by making frontier-comparable performance available at an extremely attractive cost.