In a report released today, Doug Anmuth from J.P. Morgan maintained a Buy rating on Alphabet Class C (GOOG – Research Report), with a price target of $180.00.
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Doug Anmuth has given his Buy rating due to a combination of factors that highlight Alphabet’s strategic advancements and resilience in the face of challenges. Despite macroeconomic pressures and competition in AI search, Alphabet has shown strong innovation in its AI product offerings, including the release of Gemini 2.5 Pro and Flash, which maintain a competitive edge in the market. These developments are bolstered by Alphabet’s infrastructure strengths, such as its expansive data center footprint and TPU advancements, which support the democratization of GenAI models and applications.
Furthermore, Alphabet’s commitment to expanding its cloud and GenAI infrastructure is evident in its substantial capital expenditure plans, which are expected to drive further growth. The company’s ability to navigate macroeconomic uncertainties and control costs also contributes to the positive outlook. Additionally, Alphabet’s strategic focus on enhancing its cloud offerings, including interoperability and cybersecurity, positions it well to capture more business in the future. These factors collectively underpin Anmuth’s confidence in Alphabet’s potential for sustained growth, leading to the Buy rating.