In what is a continued sign of the health of Alphabet (GOOGL), analysts at Truist Financial have updated the company’s price target to $220. Indeed, research has also given the stock a buy rating as it continues to perform positively, catching up with other Magnificent Seven stocks.
Google has been a dominant force in the tech space throughout this year. Moreover, its performance has led it to be one of the best high-growth stocks on Nasdaq throughout 2024. However, the growth is expected to continue with the company expanding its use of AI and cloud-based technologies.
Also Read: Alphabet (GOOGL): Analysts Say Google is a Buy-Now Stock
GOOGL Gets Updated Target, Buy Rating in Recent Report.
Alphabet has remained one of the most dominant tech stocks in the United States. Google is among the most popular websites on the planet, with brands like YouTube, Gmail, and the Android operating system only adding to its value. Yet, the continued work on these platforms hasDoes YouTube TV Have MSG Network? reinforced the stock’s growth trajectory.
That has led several analysts to project continued price increases for the stock. Among those expecting big things from Alphabet (GOOGL) is Truist Financial, who increased its target to $220 this week. Moreover, they continued to give the stock a buy rating as demand grew.
Also Read: Alphabet Inc. US Stock: Target $201: Should You Invest In Google?
The report also noted that the stock has a potential upside of 32.96% from the previous close. They aren’t the only firm with high hopes. Mizuho increased their price target to $210 amid the stocks’ recent success. Moreover, they gave GOOGL an outperform rating amid its recent increase.
TD Securities followed suit by also increasing their price target to $220 a share. Additionally, Wolfe Research issued an outperform rating while increasing their price target for Alphabet all the way to $240. Teh sentiment remains positive on the stock’s outcome, with the market expecting big things throughout the final three months of the year.
