TD Cowen analyst John Blackledge maintained a Buy rating on Alphabet Class C today and set a price target of $280.00.
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John Blackledge has given his Buy rating due to a combination of factors, including strong growth in Google’s search business and robust performance in its cloud segment. Despite macroeconomic uncertainties, Google’s search growth remains solid, supported by the success of AI initiatives like AI Mode and AI Overviews, which have increased user engagement.
Additionally, Google’s shares have shown significant year-to-date growth, outperforming the S&P 500. The company’s market-leading advertising business, extensive digital platforms, and emerging ventures such as Waymo contribute to its positive outlook. Blackledge’s projections indicate strong revenue and EBITDA growth over the coming years, reinforcing his confidence in maintaining a Buy rating with a price target of $280.
According to TipRanks, Blackledge is a 5-star analyst with an average return of 13.1% and a 58.94% success rate. Blackledge covers the Communication Services sector, focusing on stocks such as Alphabet Class C, Meta Platforms, and Match Group.