Investment firm Citizens JMP, led by five-star analyst Andrew Boone, kept its bullish stance on tech giant Google (GOOGL) and raised its price target from $250 to $290. This comes after Google revealed that Chrome now has AI built directly into it. Citizens said that Google is moving quickly in the race to launch an “agentic browser,” which uses AI to help users in new ways. While Perplexity’s Comet was the first to hit the market, Citizens noted that Google matched its abilities at an impressive speed, and thanks to Chrome’s wide global reach, it is in a strong position.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The firm explained that this update is an important change in how browsers will work. Instead of people always typing in searches and digging through results, AI agents inside Chrome can now handle tasks, summarize information, and bring answers directly to the user. Citizens believes that this shift could reshape how people use the internet, with AI moving from a support tool to an active assistant that delivers results more efficiently.
It also emphasized the advantage Google has by linking Gemini AI in Chrome with its broader ecosystem. Unlike AI features tied only to products like Gmail in Google Workspace, Gemini can connect across Calendar, YouTube, and Maps, thereby making it a more complete digital assistant. Citizens said that this integration improves Google’s long-term AI strategy, which ultimately led to the higher price target.
Is Google Stock a Good Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on GOOGL stock based on 28 Buys and nine Holds assigned in the past three months. Furthermore, the average GOOGL price target of $237.94 per share implies 5.9% downside risk.
