TD Cowen raises Alphabet stock price target to $270 on cloud survey results

Investing.com - TD Cowen has raised its price target on Alphabet (NASDAQ:GOOG) stock to $270.00 from $240.00 while maintaining a Buy rating. The stock, currently trading at $251.76 with a market capitalization of $3.04 trillion, has delivered impressive returns of 59% over the past year. According to InvestingPro analysis, the stock is trading near its 52-week high of $252.75.

The firm’s decision follows its 2025 GenAI Public Cloud Survey, which positioned Google Cloud Platform (GCP) as the second-place choice for companies considering additional cloud providers.

The survey revealed that GCP maintains its position as the third-ranked cloud service in terms of both awareness and usage, behind Amazon Web Services (AWS) and Microsoft Azure.

TD Cowen also noted that Google’s Gemini ranks as the second most popular generative AI large language model (LLM) provider in the market.

The firm adjusted its financial estimates for Alphabet, including a higher Cloud revenue forecast and increased depreciation and amortization, resulting in the new discounted cash flow-based price target of $270.

In other recent news, Google has opened a new data center in Waltham Cross, Hertfordshire, as part of a £5 billion investment in the United Kingdom. This initiative is aimed at supporting the country’s burgeoning artificial intelligence sector. Additionally, Alphabet, Google’s parent company, has reached a significant milestone by achieving a market capitalization of $3 trillion for the first time. In a move to enhance competitiveness in the cloud market, Google has also scrapped data transfer fees for organizations in the European Union and the United Kingdom, just ahead of the EU Data Act coming into effect.

Meanwhile, Google is facing legal challenges as PubMatic has filed a lawsuit seeking antitrust damages following a court ruling that found Google had maintained monopoly power in certain digital advertising markets. Furthermore, Alphabet’s Google is anticipated to receive an antitrust fine from the European Union concerning its adtech practices. The fine, initially scheduled for earlier issuance, was delayed due to concerns raised by EU trade commissioner Maros Sefcovic. These developments reflect ongoing scrutiny and strategic moves by Google in various markets.

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