Alphabet’s (NASDAQ:GOOGL) Google is reportedly facing an accelerated timeline for an antitrust lawsuit related to its advertising technology business. The trial is expected to begin as soon as March 2024.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
All pre-trial work is expected to be completed by January 2024, much earlier than July 2024, which was proposed by the company and the U.S. Justice Department.
In January of this year, the Justice Department and eight states filed a lawsuit accusing Google of dominating the digital advertising market. It is important to note that the department wants Google to sell off its ad manager suite.
In 2020, the DoJ brought another antitrust lawsuit against Google because of the firm’s monopoly in the search market. The trial in this case is scheduled to begin in September.
Is It a Good Time to Buy GOOGL Stock?
Wall Street remains bullish on GOOGL stock based on 32 unanimous Buys. At $129.68, the average price target implies a 23% upside. GOOGL stock has advanced 18.3% so far this year.
