Wells Fargo analyst Ken Gawrelski lowered the firm’s price target on Alphabet to $182 from $190 and keeps an Equal Weight rating on the shares ahead of quarterly results. As regulatory headlines abate, attention returns to fundamentals, the firm says. Wells continues to lean cautious on search growth despite better-than-expected first half of the year. While near-term growth tough to call, the firm is taking 100bps out of search growth in 2025 on travel spend shift to social.
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