Guggenheim lowered the firm’s price target on Alphabet (GOOG) (GOOGL) to $190 from $215 and keeps a Buy rating on the shares. The firm updated its Alphabet model ahead of Q1 earnings to reflect modest incremental softness in the brand advertising environment and to provide more detail on its YouTube subscription estimate, notes the analyst, who says the firm’s most recent advertiser checks indicate slower brand ad demand in March with the trend likely to continue into Q2.
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