Citizens Financial Group’s analyst Andrew Boone has reaffirmed a Market Outperform rating on Alphabet Inc. (NASDAQ: GOOGL), setting a price target of $515.00. The reiteration follows a 68% gain in Alphabet’s shares over the past year, which closed at $344.82 on August 21, 2026. The stock trades at a price-to-earnings ratio of 17.32, with InvestingPro assigning it a financial health score of “ÓTIMA.”
Boone’s rating aligns with a broader view that AI-driven demand for cloud and computing capacity remains robust. The analyst highlighted that sustained growth in leading AI models benefits major cloud providers such as Amazon Web Services and Google Cloud Platform, as training investments translate into inference-driven revenue.
Alphabet’s AI ecosystem has expanded significantly, with the Gemma model family exceeding one billion downloads and generating over 100,000 published variants in the past two years. The model is deployed by organizations including NASA for tasks such as on-board image analysis. Google’s agentic coding tool, Antigravity, has been integrated into Gemini Enterprise subscriptions, further embedding AI workflows into enterprise tooling.
The company has also introduced new personalization features across its core platforms, including a “Preferred Sources” button in Search, Discover, and Google News to strengthen editorial connections. Rosenblatt initiated coverage on Alphabet with a Buy rating, citing the company’s leadership in artificial intelligence as a key differentiator.
A multi-year custom silicon agreement between Alphabet and Marvell Technology Group, valued at up to $120 billion over 6.5 years according to Stifel, underscores the scale of infrastructure investments underpinning the AI push. Competitive benchmarks show rapid revenue growth among AI peers, with OpenAI reporting an 18% quarterly revenue increase to $6.7 billion and Anthropic more than doubling its quarterly revenue to $11.6 billion.
Citizens’ rating and price target reflect confidence in Alphabet’s ability to monetize AI-driven cloud and enterprise services amid sustained demand for high-performance computing capacity.
