Phillip Securities downgraded Alphabet (GOOG) (GOOGL) to Accumulate from Buy with a price target of $265, up from $235. The firm views the U.S. district judge ruling positively and believes restrictions on exclusivity will have limited impacts on Google’s product strength and partner incentives. However, it cites valuation for the downgrade following the stock’s recent rally.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOOGL:
- OpenAI Steps into Hollywood: Could AI Films Be the Next Big Investment Theme?
- Alibaba (BABA) Bets Big on Humanoid Robots with $100M Investment
- Apple (AAPL) Hit with Lawsuit over Alleged Use of Copyrighted Books in AI Training
- ASML’s $1.5B Bet Makes it Largest Mistral AI Stakeholder
- Google (GOOG) Hit With $3.2B EU Fine as Trump Threatens Tariffs