BofA Securities Raises Alphabet Price Target to $430

BofA Securities analyst Justin Post raised the price target on Alphabet (NASDAQ: GOOGL) to $430.00 (from $370.00) while maintaining a Buy rating.

“Another quarter of strong revenues and margins reinforces our view that Google is a top AI play, with increasing search usage, improving ad targeting, durable Cloud advantages from Gemini/TPUs, and growing subscription revenues from Gemini.

We think AI tailwinds for Search are still in early stages and future LLM improvements will drive durable growth. For Cloud, added capacity and TPU sales could further drive upside.

At AH price of ~$372, stock is at 25x our revised 2027E EPS, and we think search strength and Cloud backlog visibility warrant a higher multiple.

Next catalysts: I/O Conf (May 19), upgraded Gemini model, consumer agentic launches, and new Cloud deals. Reit Buy.”

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