Bank of America resets Google stock forecast ahead of earnings

Bank of America updated its outlook for Alphabet (GOOG.OQ) ahead of its April 29 Q1 earnings, raising its 2026 EPS estimate to $11.45 from $11.38 and reiterating a Buy rating with a $370 price target. The team expects Q1 revenue/EPS of $92.0B/$2.69 (vs. Street $91.7B/$2.66) and Q2 of $98.3B/$2.80 (vs. $97.6B/$2.76). Analysts see upside from the recent Wiz acquisition (estimated to add $300–$400M to Q2 cloud growth) and continued AI/Cloud investments, while flagging risks including search traffic loss to AI tools, regulatory headwinds and rising capex. Market impact: the note reinforces a bullish stance on GOOG ahead of earnings and underscores potential near-term revenue and margin upside tied to cloud and AI initiatives.