KeyBanc Raises Alphabet Price Target to $360

KeyBanc analyst Justin Patterson raised the price target on Alphabet (NASDAQ: GOOGL) to $360.00 (from $330.00) while maintaining an Overweight rating.

“We view the current environment as favorable for GOOGL and META.

While debates around AI remain fierce, we believe several core trends are emerging: 1) compute, distribution, and proprietary data matter for AI performance; 2) agentic coding has accelerated app deployment; and 3) user interfaces are evolving.

We believe Alphabet and Meta are well positioned across these dimensions, and that AI is contributing to ad revenue growth driven by both volume and price.

Raising GOOGL PT to $360 (26.7x 2027E P/E) – This reflects stronger Google Cloud growth and profitability.

As shown by our updated sum-of-the-parts (SOTP) analysis, mix shift toward Google Cloud supports a higher P/E.”

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