In a report released yesterday, Ken Gawrelski from Wells Fargo maintained a Hold rating on Alphabet Class A, with a price target of $187.00.
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Ken Gawrelski has given his Hold rating due to a combination of factors surrounding the ongoing antitrust case against Google. The primary concern is the potential remedies that could be imposed by Judge Mehta, with a low probability of drastic measures such as the forced divestiture of Chrome, which is seen as a severe outcome. Instead, the most likely scenario involves the prohibition of default exclusivity deals and the implementation of data sharing and index syndication, which could open up distribution to competitors but is expected to have a modestly positive impact on the stock.
Furthermore, there is a moderate chance of a full ban on distribution payments, which could lead to a neutral stock reaction due to its complex financial and strategic implications. The uncertainty surrounding these outcomes, coupled with the strategic importance of Chrome for search distribution and the competitive threat from AI-first rivals, suggests that investors may remain cautious. This cautious stance, along with the anticipated strategic shifts in the first half of 2026, supports the Hold rating as investors await more clarity on the antitrust remedies and their impact on Google’s business.
In another report released on July 24, Rosenblatt Securities also maintained a Hold rating on the stock with a $191.00 price target.