Alphabet (GOOGL) stock gained after the court’s Google Search ruling came out more favorable than expected two days ago. The ruling removed the threat of major structural changes, allowing Google to keep its Chrome web browser intact. The decision sparked a wave of new comments from Top Wall Street analysts, many of whom see the outcome as a clear win for the company.
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Evercore Calls Ruling a “Best Case Scenario”
Evercore ISI analyst Mark Mahaney reiterated an Outperform rating and a $240 price target on Alphabet. The 5-star analyst called the September 2 ruling in “United States vs. Google” a “best case scenario,” noting that the court rejected tougher steps like breaking up the business or banning payments. Instead, Google will face limits on exclusive contracts, new data-sharing rules, and the need to offer syndication access to rivals.
Mahaney said these changes are manageable and do not threaten Google’s core business. He described the outcome as better than expected and kept Google as a “top pick.” However, he removed the stock from Evercore’s tactical Outperform list since the ruling has already served as a clearing event.
JPMorgan Sees Remedies as “Mostly Positive”
JPMorgan analyst Doug Anmuth raised his price target on Alphabet to $260 from $232 and kept an Overweight rating. The 5-star analyst said the remedies were “much more favorable for Google than anticipated,” as the judge noted the fast-changing search market driven by GenAI. Anmuth said it was a win for Google that it will not have to divest Chrome and will not be required to add choice screens.
The analyst said the main changes are limits on exclusive contracts, one-year limits on default search deals, and some data-sharing rules. Even so, he called the ruling “mostly positive” for Google. Shares rose about 7% to a record high after the news, and Anmuth sees “further upside ahead” as regulatory risk fades.
Is GOOGL Stock a Buy, Hold, or Sell?
On TipRanks, GOOGL stock has a Strong Buy consensus rating based on 27 Buy and nine Hold ratings. The average Alphabet price target of $216.87 implies 2.61% upside potential from current levels. Year-to-date, GOOGL stock has gained 11.9%.
