Alphabet Stock Has 14% Upside, According to 1 Wall Street Analyst.
The advent of artificial intelligence (AI) over the past year or so has given investors much to consider. Yet it's important to remember that, in most cases, AI is just one part of a much larger puzzle, with each piece contributing something to the overall picture.
Keybanc analyst Justin Patterson raised his price target to $175 on (NASDAQ: GOOGL) (NASDAQ: GOOG) stock while reaffirming his overweight (buy) rating. Despite notching gains of 49% during the past 12 months, this suggests potential upside of roughly 14% over the coming year compared to Friday's closing price.
The analyst doesn't see much that will change Alphabet's positive investing thesis when the company reports its first-quarter results after market close on Thursday. That said, he believes there are plenty of potential catalysts that could propel the stock higher in the weeks and months to come.
Source Fool.com