MKM Partners analyst Rohit Kulkarni lowered the firm’s price target on Alphabet to $120 from $130 and keeps a Buy rating on the shares. The DOJ antitrust lawsuit against the company suggests that regulatory risks are rising, the analyst tells investors in a research note, adding that the headline risks could keep the stock range-bound in 2023. MKM Partners further notes that the feedback on adoption of new products has been "mixed", and the public cloud spending trends have continued to get "more worse".
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on GOOGL:
- GOOGL Responds to U.S. DoJ Complaint
- Alphabet price target raised to $145 from $128 at Credit Suisse
- Alphabet’s Waymo quietly lays off staff, The Information reports
- Credit Suisse sees 8% Alphabet target cut in ‘maximum value destruction’
- Google’s Dan Taylor says DOJ lawsuit ‘tries to rewrite history’
