Cantor Fitzgerald lowered the firm’s price target on Alphabet (GOOG) (GOOGL) to $159 from $200 and keeps a Neutral rating on the shares. The Q1 earnings season for the firm’s internet coverage universe kicks off next week and Cantor tells investors that results are likely to bring “mixed signals” due to growing macro uncertainties, tariff impacts on current and future demand, and consumer pull-in ahead of tariffs. The firm believes a defensive strategy with potential to play idiosyncratic themes is “the right approach to generate alpha” in Q1 earnings season from the internet group, adding that it has factored in a degree of macro slowdown in its Q2 and second half estimates.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GOOGL:
- Google faces GBP 5B lawsuit in the U.K. over search dominance, CNBC says
- Oppenheimer bullish on Reddit, initiates with an Outperform
- Alphabet’s Google Faces £5B Class Action Lawsuit in UK Alleging Search Dominance
- YouTube to be exempt from Australia social media ban, Bloomberg reports
- Alphabet’s Strategic Positioning and GenAI Disruption: A Buy Rating Justification