Citizens JMP Reiterates Market Outperform on Alphabet, $515 PT

Citizens JMP analyst Andrew Boone reiterated a Market Outperform rating and $515 price target on Alphabet (NASDAQ: GOOGL).

“Google intra-day is trading down ~6-7%, at ~$320, which implies Google trades for ~20x our 2027E GAAP EPS of $16.26. Our $515 price target is based on ~32x our 2027E GAAP EPS.

We justify our price target and rating based on Google’s broad benefit from AI, leadership in search and video with YouTube, and distribution with consumers as it has 13 products with 1B+ users.”

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