Reported 1 day ago
TD Cowen, an investment bank, has maintained a $195 price target and Buy rating for Alphabet Inc. (GOOG), citing predictions that its self-driving unit Waymo could see gross bookings soar to $6.1 billion by 2034. This suggests a compound annual growth rate of 44%. The bank estimates Waymo's enterprise value at $60 billion and notes other assets like DeepMind/GenAI could further elevate GOOG's worth. Moreover, improvements in Google's cloud business could increase its valuation by about 7%. Despite these optimistic projections for GOOG, the bank advises that certain AI stocks might offer even greater returns.
Source: YAHOO