JP Morgan raises Alphabet target price to $260 from $232

JP Morgan raises Alphabet target price to $260 from $232

September 02, 2025

JP Morgan has recently raised its target price for Alphabet Inc. (NASDAQ: GOOGL) from $232 to $260, reflecting a significant increase of 12.5%. The upgrade comes amidst a series of positive developments for the tech giant, including a favorable legal ruling and an expansion of its smartphone production in India.

In a recent court ruling, Judge Amit Mehta rejected the U.S. Department of Justice's demand to break up Google's core tech products, allowing Google to keep both its Chrome browser and Android operating system. This decision was celebrated by investors as it avoided more aggressive penalties that could have significantly impacted Google's operations [2].

Separately, Alphabet is ramping up production of its Google Pixel smartphones in India, including the latest flagship Pixel 10 Series. The company is also planning to begin exporting these devices from India. This move aims to diversify manufacturing and mitigate the risks posed by U.S. tariff concerns. Alphabet is expanding production with its existing vendors, Foxconn and Dixon Technologies, and exploring new potential suppliers such as Micromax-owned Bhagwati Products [1].

The production expansion in India also aligns with Alphabet's strategy to reduce import duties and make its Pixel smartphones more competitive with premium models from Apple and Samsung. India levies a 16.5% import duty on smartphones, which has been a significant cost factor for Alphabet in the past.

JP Morgan analysts have cited these developments as key factors driving the upward revision in Alphabet's target price. The legal victory and the production expansion in India are seen as positive signs for Alphabet's future growth prospects.

References:

[1] https://economictimes.indiatimes.com/industry/cons-products/electronics/alphabet-ramps-up-pixel-phone-production-in-india/articleshow/123669907.cms
[2] https://cryptorank.io/news/feed/b9426-alphabet-surges-8-google-can-keep-chrome