Citi is bullish on Google stock in near term ahead of several catalysts

Investing.com -- Citi placed Alphabet on a 90-day upside Catalyst Watch on Tuesday, arguing that a cluster of product and event catalysts could lift the stock through to July 13.

Analyst Ronald Josey said Citi is adding the watch “given a favorable catalyst path,” highlighting a series of upcoming announcements across the company’s core businesses.

Citi pointed to Google Cloud Next from April 22–24, first-quarter earnings on April 29, Google I/O on May 19–20, YouTube’s Brandcast on May 13, and Google Marketing Live on May 20.

Across these events, the bank expects “product updates around Google’s Gemini models, Search, YouTube, and Cloud offerings.”

Fundamentally, Citi described the online advertising backdrop as “relatively healthy,” supporting accelerating Search revenue growth.

The firm noted that Gemini’s product strategy continues to evolve for both consumers, with “750M+ MAUs,” and enterprise users through Gemini Enterprise.

At the same time, demand for Google Cloud and its AI-driven services “remains robust,” according to Citi.

The bank said these factors position Alphabet to potentially outperform Wall Street expectations in the near term.

“We believe Google could report revenues and operating income above consensus projections as newer products and services are announced over the next several weeks,” Citi wrote.

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