Alphabet Class C ( (GOOG) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Alphabet Class C, the parent company of Google, is facing a temporary freeze of approximately €110 million ($129 million) of its assets in France. This legal action, initiated by the administrator of Google’s now-defunct Russian business, is part of a broader move by Russian authorities to address frozen Russian assets in Europe. The freeze is based on rulings by Moscow arbitration courts, which found Google guilty of an illegal dividend payment in 2021. The French court’s decision is temporary, pending formal recognition proceedings, and Google has the opportunity to challenge this freeze.
Despite these legal challenges, Alphabet Class C’s stock, represented by GOOGL, remains a strong buy according to Wall Street analysts. The stock has received a consensus rating of ‘Strong Buy’ based on 29 Buys and seven Holds in the last three months. The average price target suggests that GOOGL shares are trading near fair value. This positive outlook comes amid fierce competition in the AI sector, where Alphabet’s Gemini 3 model is competing with OpenAI’s latest releases. Alphabet continues to innovate and maintain its position in the rapidly evolving tech landscape.