Citi Reiterates Buy Rating on Alphabet (GOOGL)

Citi analyst Ronald Josey reiterated a Buy rating and $200.00 price target on Alphabet (NASDAQ: GOOGL)

The analyst comments: "With AI Mode going live in the U.S., the Gemini App reaching 400M MAUs (vs. ~350M in March), and AI Overviews delivering query growth, we believe GOOGL’s product cadence and user adoption of newer tools is ramping which should provide some stability for Search growth. The core underlying theme of I/O, in our view, was the focus on creating a more personalized user experience as Google builds out the Agentic experience on Mariner, Astra, and Gemini App products and launches its version of AI glasses. To be clear, the heightened competitive landscape remains and our updated SOTP suggests GOOGL’s core Search & Other business is currently valued at less than 10x our ’26 EBIT reflecting these L-T growth concerns. But based on our view of an improved product cadence and growing user adoption rate as Search becomes more personalized and agents ramp, we maintain our Buy rating and $200 TP."

For an analyst ratings summary and ratings history on Alphabet click here. For more ratings news on Alphabet click here.

Shares of Alphabet closed at $163.98 yesterday.

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