Alphabet Stock Could Reach $170, Says Wall Street Analyst. Should You Buy at $130?

The seemingly everlasting leader in internet search, Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), has made many investors richer over the past 25 years. However, it hasn't been the most intriguing stock lately, neither rising nor falling with the IT industry.

Some think the market is unfairly ignoring it, missing out on a cheap, solid investment. Explore one analyst's positive view on the company.

Redburn-Atlantic's James Cordwell raised his price objective on Alphabet's class A voting shares (GOOGL) at the end of February. He thinks these are worth $170 each, up from $165. With his move, Cordwell maintained his buy rating on the shares.

Given that both classes of Alphabet's stock are sitting around $130 and trade at the same level, they could gain 30%.

Cordwell thinks Alphabet is priced like a blue chip stock in an uninteresting industry rather than a tech leader. He said in a note that "Alphabet's forward P/E now just in line with that of the [S&P 500 index] sentiment has clearly turned negative regarding Google Search's competitive position and ongoing growth potential.

An established specialty company often struggle to attract investors.

Longevity might make people forget that a business may still have strong development potential. Internet search will become more important as technology progresses, and Alphabet has no real competitors

Cordwell's latest stock analysis is intriguing, and $130 seems like a good price for a promising company.