Analysts at Citizens have reiterated their bullish rating on tech giant Google (NASDAQ:GOOG) (NASDAQ:GOOGL) and have hiked the price target on its stock following the company’s announcement that it has integrated AI into Chrome across multiple levels.
The research firm has noted that Google is early to market with an agentic browser and has distribution channels.
“While Perplexity’s Comet was the first to market with an agentic browser, we are impressed that Google quickly matched those capabilities,” the research firm said.
“Simply put, this is the first step toward agents beginning to help internet browsers complete actions and find and summarize information at the browser level, enabling AI to bring tasks and information instead of the other way around,” they added.
Citizens also pointed out that Gemini AI in Chrome, which works across apps like Calendar, YouTube, and Maps, is different from AI built for its other properties like Gmail, which is a Google Workspace product. Therefore, they believe the company’s access to its broader ecosystem makes its AI “a more complete digital assistant.”
GOOGL has a PT of $290, hiked from $250, implying an upside of 15.1%.