Google Stock Surges on Improved Analyst Sentiment, Higher Price Target
Alphabet's stock price surged on Friday after analyst sentiment improved following fresh developments that boosted its outlook. The boost came from Evercore, which raised its price target for Alphabet to $450 from $420 and maintained a Buy rating. This decision followed the company's proprietary search poll, which found that 78% of respondents said Google was their primary search engine in August 2026, up from a low of 70% in 2024.
Evercore also increased its estimates for Google Search revenue growth in 2026 through 2028 based on the study. The firm's 2028 revenue and operating income expectations are now 4% to 5% above the Wall Street consensus. This news, combined with a recent antitrust verdict, contributed to Alphabet's rise.
On September 16, a federal judge refused to require Google to sell its advertising technology business but ordered it to adjust its ad-bidding methods and have an internal compliance monitor. Shares of GOOGL were trading around $355.59 in the premarket, down from its 52-week high of $408.61.