Analyst Brian Nowak from Morgan Stanley maintained a Buy rating on Alphabet Class A and keeping the price target at $210.00.
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Brian Nowak has given his Buy rating due to a combination of factors that highlight Alphabet’s strong market position and potential for growth. The recent legal decisions in the US vs GOOGL case have been assessed as unlikely to significantly impact Alphabet’s leading position in the market. This stability allows the company to focus on product innovation and revisions, which are crucial for maintaining its competitive edge, especially against emerging competitors like ChatGPT.
Furthermore, Alphabet’s substantial annual TAC payments are expected to remain stable or potentially decrease, which could enhance profitability. The company’s ability to continue revenue-sharing agreements with browser developers without exclusivity requirements positions it favorably. Additionally, the data-sharing clauses appear to be manageable, allowing Alphabet to leverage its technological and financial strengths effectively. These factors collectively support the Buy rating with a bullish outlook on Alphabet’s future performance.
In another report released today, Needham also maintained a Buy rating on the stock with a $260.00 price target.