Raymond James analyst Marley Kayden raised the firm’s rating on Alphabet to Strong Buy and lifted the 12-month price target from $315 to $400, citing the company’s expanding AI ecosystem and accelerating monetization of generative services. The note highlights that Alphabet’s Gemini model has secured major enterprise partnerships and is now integrated into over 30 cloud-based productivity tools. The upgrade follows a 20% share gain for the stock since the start of the year and positions Alphabet alongside the few companies projected to generate over $100 billion in AI-driven revenue by 2026, according to Raymond James estimates.

Chris Grisanti of MAI Capital Management reiterated his confidence in Alphabet during his recent television appearance, emphasizing that the company’s cash-flow expansion and robust balance sheet—now holding more than $120 billion in liquid assets—justify a long-term hold. Meanwhile, Karen Firestone of Aureus Asset Management confirmed a modest trim of her position, attributing the adjustment to portfolio rebalancing rather than a change in conviction. Both strategists cited Alphabet’s steady growth in search ad revenue, which rose 18% year-over-year in Q4, and the rapid adoption of AI-powered ad formats as key drivers of sustained profitability.

Data from Options Corner shows a surge in bullish call buying on Alphabet, with open interest in January and March strikes doubling over the past two weeks. Market-making desks have reported a skew toward bullish diagonals, particularly in the $350 and $375 strike calls, suggesting institutional players anticipate further upside ahead of the company’s next earnings release. This uptick in positive positioning has pushed implied volatility down by 8%, reflecting a growing consensus that Alphabet’s upcoming product announcements—especially around generative AI enhancements for YouTube and Workspace—will exceed market expectations.