Google's Antitrust Woes Spark Analyst Downgrade of Alphabet's Stock

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Wolfe Research Maintains Alphabet-C(GOOG.US) With Buy Rating, Cuts Target Price to $230

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Wolfe Research Adjusts Price Target on Alphabet to $230 From $220, Maintains Outperform Rating

MT Newswires05:13 ET · Ratings

Major Ratings丨Citizen JMP Securities: Downgraded Alphabet's rating to "In line with the market" while monitoring the progress of the antitrust lawsuit.

Citizen JMP Securities Analyst Andrew Boone has downgraded Alphabet's rating from "Outperform" to "Market Perform," stating that after the surge in Alphabet's stock price, investors have become cautious and are likely to remain on the sidelines. A USA court ruled last year that Google has a monopoly in general search services and advertising, but the court has yet to decide on potential remedies or how to resolve the dispute. The court is expected to hold hearings in March or April this year and deliver a ruling in August. Boone believes this case will become a major focus for investors over the next year, thereby limiting.

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