Cantor Fitzgerald Raises Alphabet Price Target to $465
Cantor Fitzgerald analyst Deepak Mathivanan raised the price target on Alphabet (NASDAQ: GOOGL) to $465.00 (from $395.00) while maintaining an Overweight rating.
“GOOGL’s 1Q results came in with a solid 3%/9% beat on street revenues and EBIT. At a segment level, search revenue growth was strong once again at +16% ex-FX.
Meanwhile, GCP revenues accelerated sharply to 63%, while backlog saw another strong growth to $462B (+93% Q/Q).
On profitability, 1Q EBIT margin expanded by 220-bps y/y driven by healthy leverage in various businesses despite growing AI infra costs.
GOOGL raised its FY26E capex by $5B to $185 (midpoint) and noted initial plans for significant capex growth in FY27E.
On the call, management highlighted several KPIs where GOOGL is seeing nice benefits from AI deployments. As such, the fundamental outlook for GOOGL remains strong in 2026.
We have raised our FY27E revenues and EBIT estimates by 7% and 13%, respectively. Our revised PT is $465 (vs. $395 previously).
We reiterate our Overweight / Top Pick rating and see several catalysts ahead, including Google I/O, new model launches, and partnerships.”
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