KeyBanc Affirms Overweight on Alphabet, $435 Price Target
Since this note−0% GOOGL $344.08 → $343.50 (Oct 3) · moving away from the target
KeyBanc analyst Justin Patterson reiterated an Overweight rating and $435 price target on Alphabet (NASDAQ: GOOGL)
“Google’s new model, Gemini 4 Argon, was announced earlier than expected and showed progress across many benchmarks (albeit, still lagging in coding) and a compelling cost-per-task profile.
We acknowledge this could bolster NT sentiment, but believe the paced rollout makes it difficult to gauge true performance.
In our view, the debates from here center on: 1) how quickly Google can improve assistants; 2) how Gemini 4 and assistants impact the broader Google ecosystem (e.g., Search, Cloud); and 3) capex needs to support the business.
We maintain our OW rating and $435 PT (24.3x 2028E P/E).”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
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.
Other Alphabet (Google) notes
Piper SandlerBuy
Raised price target +1%, kept rating · Sep 28
$400from $395
Tigress Financial PartnersBuy
Raised price target +17%, kept rating · Sep 17
$485from $415
Citizens JMPBuy
Kept rating and price target · Aug 31
$515maintained
Wolfe ResearchBuy
Kept rating and price target · Aug 27
$460maintained
Citizens JMPBuy
Kept rating and price target · Aug 26
$515maintained