JPMorgan expects judge remedies in Google case by August 8

JPMorgan expects remedies from the judge in the Department of Justice’s search monopoly case against Alphabet’s (GOOG) Google by August 8. The firm believes uncertainty around the case explains the “muted reaction” in the shares since the Q2 report. JPMorgan could buy Alphabet shares on any remedy-driven selloff. The judge’s remedy will provide greater clarity and while investors are positioned for a negative outcome, there is also potential for the remedy to be less punitive than expected, the analyst tells investors in a research note. The firm believes prohibition of exclusionary practices and preloading of Google Search, meaning no exclusive search default on any access point and not much more, would be less punitive than expected. JPMorgan adds that regardless of the remedy, Google will immediately appeal the judge’s initial August 2024 monopoly ruling and perhaps the remedy itself. It keeps an Overweight rating on Alphabet with a $232 price target