TD Cowen predicts an AI-driven rally ahead for Alphabet stock (GOOG), maintaining a buy rating and raising the price target from $335 to $350. Analyst John Blackledge noted that Alphabet shares have surged 65% this year, with the new target suggesting a potential 12% increase from its recent close. Blackledge attributes this optimistic outlook to successful AI integration within Google Search, projecting a compound annual growth rate of 10.2% for the platform over five years. Additionally, he forecasts Gemini app monthly users to reach 850 million by 2025, up from 600 million, with the potential to approach three billion by 2030. Positive U.S. survey data highlights increasing Gemini chatbot usage and rising search engagement due to AI features. Blackledge emphasizes Alphabet’s leading position in mobile advertising, supported by a robust cloud franchise and AI capabilities, positioning the company for double-digit annual revenue and EBITDA growth.
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