Evercore ISI Raises Alphabet Target to $400, Aligning with Cramer's Bullish Call

Evercore ISI's Mark Mahaney raised Alphabet's price target to $400 (16% upside from $342 close) while keeping Outperform, citing resilient ad demand, accelerating spend, and Google Cloud backlog doubling to $240B. This echoes Jim Cramer's April 22 call for $400 (19% upside from $336), matching Wall Street's $387.68 average target and Strong Buy consensus amid 18% monthly gains. Investors eye Q1 earnings on April 29 (expected $106-107B revenue, $2.62 EPS), but $175B 2026 capex for AI risks margins despite long-term upside.