I recently added to my position in GOOG following KeyBanc Capital Markets’ bullish update. The firm raised its price target to $370, citing strong growth in Google Services and Google Cloud, alongside a nearly 55% QoQ surge in Cloud backlog. Alphabet’s AI assistant, Gemini, now reaches 750 million monthly active users, reflecting solid user engagement. KeyBanc emphasizes that the stock’s upside is driven by earnings growth rather than multiple expansion. With robust segment performance and strategic capex fueling long-term growth, this investment aligns with my focus on quality, innovation-led companies with sustainable growth trajectories.
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