Reported 2 days ago
Analysts at Phillip Securities have downgraded Alphabet Inc. (GOOGL) from Buy to Accumulate after a recent antitrust ruling found Google guilty of monopoly practices. Despite anticipated harsh penalties being dismissed, such as forced sales of its products, restrictions imposed were viewed as manageable. The firm maintains a positive outlook on the company's AI advancements, increasing their target price to $265 due to investor sentiment improving post-ruling while highlighting that certain AI stocks may present better investment opportunities.
Source: YAHOO