BofA analyst Wamsi Mohan raised the firm’s price target on Apple (AAPL) to $260 from $250 and keeps a Buy rating on the shares after the judge in the DOJ-Google (GOOGL) antitrust case issued a memorandum opinion on remedies required of Google that the firm calls “a win for Apple.” Google will be barred from entering or maintaining exclusive contracts related to distribution of Google Search, Chrome, Google Assistant, and the Gemini App, but Google will be permitted to pay distributors for default placement one year at a time, notes the analyst, who applies a higher multiple to its estimates for Apple following the ruling based on increased confidence in Services growth.
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