Alphabet price target lowered to $132 from $147 at Societe Generale

Societe Generale analyst Christophe Cherblanc lowered the firm’s price target on Alphabet to $132 from $147 and keeps a Buy rating on the shares. The analyst says cost management has become a top-of-mind priority for technology investors. For Alphabet, the issue is less about short-term cyclical pressures than delivering the scale benefits expected from a company with revenues of $280bB in a "progressively maturing online ecosystem," Cherblanc tells investors in a research note. The analyst says Alphabet remains his preferred online stock despite his reduced estimates.