Scotiabank Maintains its Outperform Rating on Alphabet Inc. (GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) is among the 12 Best Autonomous Driving Stocks to Buy Right Now.

On February 5, 2026, TheFly reported that Scotiabank maintained its Outperform rating on the shares. It increased its price objective for Alphabet Inc. (NASDAQ:GOOGL) from $375 to $400. The analyst informs investors that Google posted one of the most noteworthy quarters recently, with a significant top-line beat.

Separately, Mizuho increased its price objective for Alphabet Inc. (NASDAQ:GOOGL) from $365 to $400 on February 3, 2026. It maintains an Outperform rating for the stock. The firm is nonetheless optimistic about the fundamentals of the large-cap advertising group. It anticipates that the market for online advertising could grow faster in 2026. The corporation’s price target was raised as part of a preview for Q4.

The firm announced on February 4, 2026, that capital expenditures will potentially double this year, as reported by Reuters. It is just another dramatic spending surge by the Google parent company as it increases investments to ease compute capacity limitations and advance in the AI race. It is anticipated that Alphabet Inc. (NASDAQ:GOOGL) and its Big Tech competitors would spend over $500 billion on artificial intelligence this year.

Alphabet Inc. (NASDAQ:GOOGL) is a holding company that works in the fields of software, healthcare, transportation, and other technology.

While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.