Phillip Securities Downgrades Alphabet (GOOGL) to Accumulate

Phillip Securities analyst Serena Lim Yi Qi downgraded Alphabet (NASDAQ: GOOGL) from Buy to Accumulate with a price target of $265.00 (from $235.00).

The analyst comments: "We view the overall ruling positively and believe restrictions on exclusivity have limited impacts on GOOGL given product strength and partner incentives. We downgraded to ACCUMULATE rating but increased DCF target price to US$265 due to recent price rally. We keep our FY25e revenue unchanged, but reduce WACC from 7.7% to 7.4, reflect the ease of investors' sentiment over the case decision. We expect GOOGL to continue benefitting from AI-driven product enhancement and operational efficiencies."

For an analyst ratings summary and ratings history on Alphabet click here. For more ratings news on Alphabet click here.

Shares of Alphabet closed at $235.00 yesterday.

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