Alphabet’s Google (NASDAQ:GOOGL) (NASDAQ:GOOG) is set to face a trial against the U.S. Department of Justice’s claims that it holds a monopoly in digital advertising. According to Bloomberg, a federal judge rejected Google’s request for a summary judgment to dismiss the case before trial. The tech company had argued that it wasn’t a monopoly and that antitrust regulators hadn’t proven it controls 70% of the digital ads market.
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Google recently avoided a jury trial by agreeing to pay the U.S. government $2.3 million for monetary damages. The DOJ’s lawsuit aims to break up Google’s digital ad business and marks the second major antitrust case against the company. The first, filed during the Trump administration, accuses Google of abusing its market power in Internet search.
Despite its legal issues, GOOGL stock finished today’s trading session slightly higher.
What Is the Price Target for GOOGL?
Turning to Wall Street, analysts have a Strong Buy consensus rating on GOOGL stock based on 32 Buys, five Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. After a 41% rally in its share price over the past year, the average GOOGL price target of $197.67 per share implies 12.15% upside potential.
