BofA Analyst Raises Alphabet Price Target Ahead of Q3 Earnings

Alphabet Inc. (GOOGL) shares may see further upside as BofA Securities analyst Justin Post lifts his price target to $280 ahead of the company's October 29 earnings report. The revised target suggests an 11% potential gain, reinforcing Post's Buy rating. Ranked among the top 0.3% of analysts tracked by TipRanks, Post maintains a 69% success rate with average 24% returns on his calls.

The upgrade reflects confidence in Alphabet's core advertising business, where third-quarter spending trends show improvement across key categories. Post estimates Q3 revenue at $86 billion, slightly above consensus, though legal charges may temporarily pressure EPS. Excluding these one-time items, operating margins are expected to hold steady NEAR 35.7% - demonstrating disciplined cost management.

Search remains the growth engine, with cloud computing and AI initiatives providing additional catalysts. The analyst's outlook suggests Alphabet continues to balance revenue growth with operational efficiency, even as macroeconomic uncertainties persist across tech sectors.