Wall Street analyst sets Google (GOOGL) stock price target for 12 months

Alphabet has shed nearly $510B in market cap over the past three weeks, but analyst Scott Devitt (Rosenblatt Securities) expects the stock to rally to a new all-time high within 12 months. The setup suggests near-term drawdown pressure alongside an analyst-driven upside call, likely providing only limited immediate price impact.

Analysis

Alphabet has shed nearly $510B in market cap over the past three weeks, but analyst Scott Devitt (Rosenblatt Securities) expects the stock to rally to a new all-time high within 12 months. The setup suggests near-term drawdown pressure alongside an analyst-driven upside call, likely providing only limited immediate price impact.