STOCKS | Alphabet Stock Declines Nearly 5% Amid Bullish Outlook from TD Cowen

Alphabet, the parent company of Google, has experienced a nearly 5% decline in its stock value. According to NS3.AI, despite this downturn, TD Cowen has issued a buy recommendation for the stock, setting a target price of $365. The optimistic forecast is largely attributed to the robust growth of Waymo's autonomous vehicle operations in California, which indicates potential expansion opportunities and a strong competitive position. Additionally, Alphabet's strategic acquisitions and diversification initiatives are expected to contribute to a potential stock appreciation of around 19%.