BofA Securities Reiterates Buy Rating on Alphabet, $430 Price Target

BofA Securities analyst Justin Post reiterated a Buy rating and $430.00 price target on Alphabet (NASDAQ: GOOGL).

“At I/O 2026, Alphabet introduced a broad range of new AI products, underscoring accelerating velocity of AI innovation.

While in prior years Google was playing catch up with AI technology, this year’s product announcements leveraged Google’s strong Gemini model capabilities and demonstrated increasing leadership in shaping consumer AI experiences.

The event, along with strong search traffic data (AI mode usage is doubling quarterly and has 1bn users) reinforced our view that Alphabet remains well positioned to lead next phase of consumer AI adoption, supported by leading frontier capabilities, a differentiated full-stack platform, and unmatched global distribution.

Maintain Buy.

Key highlights at I/O 1) Showcased progress in the frontier AI roadmap with the launch of Gemini 3.5 Flash and Omni; 2) Integrated Gemini 3.5 Flash in Search and introduced a redesigned intelligent search experience further establishing search as an AI starting point; 3) Introduced Gemini Spark, a persistent personal AI agent and launched Antigravity 2.0, an upgraded agent-first coding platform.

4) Launched Universal Cart, a persistent cross merchant shopping cart that enables users to save, track, and manage products across retailers & Google surfaces; and 5) Expanded Android XR with announcement of audio first smart glasses, expected to launch this fall.”

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