Global investment banking firm TD Cowen has reiterated its buy rating for Alphabet’s Google stock (NASDAQ: GOOG). In a note to clients sent on Tuesday (June 9), Senior Equity Research Analyst John Blackledge hiked the price target for GOOG in his latest prediction. According to the note, accumulating the search giant at the $360 to $350 level could deliver extended profits when the equity hits the new price target.

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TD Cowen’s New Price Prediction For Google Stock: See the Hiked Target

The TD Cowen analyst hiked Google’s stock target to $475, making it among the most bullish forecasts. The previous target for GOOG was $450, and the investment banking firm has raised it by another $25. The analyst said in the note that investors could expect to see profits of close to 31%. Therefore, an investment of $1,000 could turn into $1,300+ if the price prediction turns out to be accurate.

This puts Google stock on the must-watch list as the bulls are aiming to make it climb above the $400 level again. Accumulating GOOG at the current levels and buying in on the dips could prove to be a better strategy. Apart from TD Cowen, Bank of America Securities analyst Justin Post also predicted that GOOG could reach a high of $430. Wall Street remains bullish on the search giant despite its price experiencing a retracement this month.

Alphabet’s Google stock saw a sigh of relief on Tuesday, as it closed the trading session in the green. GOOG snapped out of its downward trend by briefly rising 0.31%, reaching $362. The search giant has been heading south since May after it reached a yearly high of $408. The dip came after the buzz of the robust earnings call faded, leading to traders initiating sell-offs and profit bookings. The correction is mostly healthy and could soon consolidate and head north.

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