In a report released today, Doug Anmuth from J.P. Morgan maintained a Buy rating on Alphabet Class C (GOOG – Research Report), with a price target of $220.00.
Doug Anmuth has given his Buy rating due to a combination of factors that reflect both challenges and opportunities for Alphabet Class C. Despite the Department of Justice’s revised remedies not providing the relief Google hoped for, Anmuth sees potential in Google’s ability to navigate these regulatory challenges. The DOJ’s restrictions, such as prohibiting payments for search distribution through Choice Screens, pose risks, but Anmuth believes that the final decision will likely be more balanced and considerate of consumer impact.
Furthermore, Anmuth acknowledges that while there might be some negative financial implications for Google, the exact impact remains uncertain due to the ongoing legal processes and potential appeals. He also notes that Google’s proposed remedies, which focus on maintaining competitive practices without mandatory divestitures, could offer a more favorable outcome. Overall, Anmuth’s Buy rating reflects confidence in Google’s strategic positioning and resilience in the face of regulatory pressures.