KeyBanc Boosts Alphabet Price Target to $445

KeyBanc analyst Justin Patterson raised the price target on Alphabet (NASDAQ: GOOGL) to $445 (from $425) while maintaining an Overweight rating.

“Cloud and Search Keep Rolling; While we no longer expect the staggering q/q backlog growth seen in recent months, we still believe consensus is underestimating the durability of Google Cloud and Search growth.

We believe these businesses should help Alphabet sustain 20%+ revenue growth in 2026E-2028E, resulting in our revenue forecast that is ~5% above Street revenue in 2027E and 2028E.

Our new PT of $445 reflects our higher forecast and roll to 2028E valuation (25x P/E, backed by sumof-the-parts). We maintain our OW rating.”

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