Cantor Fitzgerald Upgrades Alphabet to Overweight, $370 Price Target

Cantor Fitzgerald analyst Deepak Mathivanan upgraded Alphabet (NASDAQ: GOOGL) from Neutral to Overweight with a price target of $370.00 (from $310.00).

“GOOGL was among the top performers in Internet in 2025 with shares trading up 65% as the company’s dominant competitive position in AI became evident from the success of the Gemini series of models, accelerated deployments of AI experiences in search, and strong growth of Gemini app.

The benign remedies in the US vs. GOOGL Search Antitrust trial also helped investors eliminate the risks of forced asset divestiture or partnership losses.

Heading into 2026, we believe the fundamental outlook for GOOGL remains solid.

We think GOOGL is among the handful of companies that stand to benefit the most as the AI Era moves ahead into the Synergy Phase from the current Frenzy.

GOOGL, arguably, has the strongest footprint across various layers of the AI stack with solid presence in infrastructure (35 DC campuses live, 20+ in development), compute (TPU v7 deployments + v8 upcoming announcement at I/O), model (Gemini 3 still SOTA in many benchmarks), and applications (search with 5B+ users, chrome with 4B+ users, and Android nearly 3B+ users excluding China).

The company is well-positioned to reap the benefits of its broad footprint over the next 2-3 years with accelerated distribution of its AI assets.

At 25x FY27E EPS, we think sentiment reflects this bullish fundamental outlook for GOOGL shares. But we think revenue growth acceleration would be a positive catalyst for shares in 2026.”

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