Evercore ISI analyst Mark Mahaney raised the firm's price target on Alphabet $GOOG $GOOGL to $450 from $420 and keeps an Outperform rating on the shares.
The firm is citing the findings of its proprietary Search survey showing "strength and recovery", noting that Google clearly holds Search leadership with a 78% selection as "primary Search Engine", also stating that that position has strengthened over the last 4 quarters, after declining in 2024 and early 2025 to a low of 70%, the analyst tells investors in a research note.
As an AI Service, Gemini has also gained share on ChatGPT and has now narrowed the selection gap to a record low 3 points of 58% vs. 55%, the firm added.