Alphabet price target lowered to $215 from $220 at Guggenheim

Guggenheim lowered the firm’s price target on Alphabet (GOOG) (GOOGL) to $215 from $220 and keeps a Buy rating on the shares. Q4 results were largely in-line with consensus overall revenue and operating profit estimates, but while solid search growth “should have mitigated concerns about AI-driven pressure,” a combination of slower Cloud growth, accelerated Network decline, cautious forward commentary and a meaningfully higher capex estimate “understandably weigh on sentiment,” the analyst tells investors. With Meta (META) reporting accelerating revenue growth and a significant profit beat in Q4, “the bar was raised for Alphabet earnings,” the analyst added.