$GOOGL: WELLS FARGO UPGRADES TO OVERWEIGHT FROM EQUAL WEIGHT - PT $387 (FROM $354) Wells Fargo upgraded Alphabet to “Overweight,” raising its price target to $387, citing Google’s expanding compute capacity as a key competitive advantage. Analyst Ken Gawrelski says Google is set to grow capacity to 35GW by 2028 (from 15GW), outpacing rivals and positioning it to dominate cloud and AI-driven businesses. Stronger capacity is expected to fuel faster growth in Google Cloud, with revenue forecasts lifted well above consensus. The firm also sees new upside from AI products like Gemini subscriptions and potential partnerships, reinforcing Google’s long-term growth outlook.