Alphabet Inc. (NASDAQ:GOOGL) is one of the AI Stocks Gaining Attention on Wall Street. On January 7, Canaccord Genuity analyst Maria Ripps raised the price target on the stock to $390.00 (from $330.00) while maintaining a Buy rating.
The firm is bullish on the tech giant, believing Google’s scale and data position will help extend its data-lead post regulatory clarity. It discussed how during most of 2025, the market perception about Google centered on competitive pressures, regulatory challenges, and lagging AI innovation. However, the narrative quickly changed after Google achieved favorable ruling in the search antitrust case.
“Following a favorable ruling in the search antitrust case, the narrative rapidly shifted to search stability, an accelerating pace of AI innovation, and robust cloud growth underpinned by structural hardware advantages (i.e., TPUs)”
The perception shift has enabled the company to deploy new AI products and leverage its scale, resources, and data advantages to “extend its competitive lead”. On this note, the firm anticipates Google to sustain this momentum throughout 2026, doubling its efforts to further “entrench AI into its ecosystem.”
“While we do see the potential for some volatility in 1H26, when the first Blackwell-trained models are expected to launch and as the TPU supply chain is reportedly strained, we remain constructive on the stock for several reasons…”
Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.
While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None.
