After the U.S. District Court issued its remedial opinion and declined structural remedies and a broad payment ban, but accepted with modifications Google’s proposed injunctive limits on its contracts and adopted tailored data-sharing and syndication obligations to open the markets, Evercore ISI analyst Mark Mahaney called the ruling a “best case scenario” and reiterates Alphabet (GOOG) (GOOGL) as the analyst’s top pick with an Outperform rating and $240 price target. The firm, which notes it had kept its tactical outperform call on the stock after Q2 results based on the view that the remedies decision would likely end up being a “clearing event” for the stock, now is removing Alphabet from the firm’s “Tactical Outperform” list.
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