Tigress Raises Alphabet (GOOGL) Price Target to $485 as AI Fuels Growth. Can the Momentum Last?
Source: Insider Monkey ·
AI leadership is increasingly becoming a key growth engine across Alphabet Inc. (NASDAQ:GOOGL)’s core businesses. Tigress Financial analyst Ivan Feinseth echoed this sentiment on September 17, citing strong Search momentum, rising Cloud growth, and margin expansion in second-quarter results. Consequently, the analyst has reiterated a Buy rating on the stock and hiked the price target […]
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AI leadership is increasingly becoming a key growth engine across Alphabet Inc. (NASDAQ: GOOGL )'s core businesses. Tigress Financial analyst Ivan Feinseth echoed this sentiment on September 17, citing strong Search momentum, rising Cloud growth, and margin expansion in second-quarter results. Consequently, the analyst has reiterated a Buy rating on the stock and hiked the price target to $485 from $415. The research firm has also reiterated that the current AI investment cycle positions the company for accelerated economic profit growth. We recently examined whether Alphabet's massive AI infrastructure spending is beginning to strain its cash generation after free cash flow turned negative. Read more here: Alphabet (GOOGL) Raised $3.9B After Free Cash Flow Turned Negative. Is AI Spending Becoming a Risk? Alphabet has been integrating its Gemini AI models, AI Overviews, and AI Mode into Google Search to make the platform more useful for complex and conversational queries. These…