Citizens JMP Reiterates Market Outperform on Alphabet, $515 PT

Citizens analyst Andrew Boone reiterated a Market Outperform rating and $515.00 price target on Alphabet (NASDAQ: GOOGL).

“Former Character.ai founder and current VP of Engineer at Google Noam Shazeer is leaving to go to OpenAI. Google (GOOGL, MO, $515 PT) paid $2.7B to license Character.ai’s technology.

While we acknowledge the breadth of the team, it highlights the risks of acquihires.

Going backwards, the bear case on Google from 2-3 years ago was that it would lose talent to OpenAI and Anthropic and not be able to catch up in AI development.

We continue to monitor executive movement for that reason.”

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.