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Investing.com - Goldman Sachs has reiterated its Buy rating and $234.00 price target on Alphabet (NASDAQ:GOOGL), currently trading near its 52-week high of $214.65, following the court’s recently published remedies decision related to Google’s search antitrust case. The stock has gained nearly 35% over the past year, with 30 analysts recently revising their earnings estimates upward according to InvestingPro data.
The investment bank analyzed each enforced remedy and assessed potential impacts to Google and the broader search landscape, maintaining a constructive view on Alphabet shares over the medium to long term.
Goldman Sachs believes Alphabet’s current valuation already prices in notable headwinds and sees the court decision potentially relieving the multiple overhang on shares that resulted from uncertainty surrounding the ruling.
The firm continues to view Alphabet favorably regarding its long-term strategic positioning across multiple end-markets, including both consumer and enterprise-facing segments as well as search and non-search businesses.
Goldman Sachs considers Alphabet the leading collection of AI/machine learning-driven businesses in its coverage universe, supporting its maintained Buy rating and 12-month price target of $234.
In other recent news, several investment firms have adjusted their price targets for Alphabet. Barclays increased its price target to $250, citing reduced legal risks after years of antitrust litigation. Similarly, KeyBanc Capital Markets raised its target to $265, referencing a favorable Department of Justice ruling that could allow Alphabet shares to align with the S&P 500. Meanwhile, DA Davidson set a new target of $190, highlighting the growing competitiveness of Google’s Tensor Processing Units in the artificial intelligence market. These adjustments reflect differing perspectives on Alphabet’s future performance and market positioning. In other developments, European leaders have reiterated their commitment to digital market regulations. German Chancellor Friedrich Merz emphasized the EU’s sovereignty in making independent regulatory decisions. French President Emmanuel Macron also affirmed the stance of France and Germany against recent criticisms from the U.S. regarding European digital regulations.
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