Citi analyst Ronald Josey notes that Alphabet’s (GOOG) (GOOGL) Google submitted its Proposed Final Judgement in response to the Court’s August ruling that certain search distribution and browser default agreements violated the Sherman Act and, as expected, is more narrow than the DOJ’s proposed remedies. Google was clear that it plans to appeal the ruling and while recognizing the regulatory overhang on the shares, Citi believes the recent launches of Gemini 2, Veo, and Imagen 3 “underscore a continued focus on innovation even as profitability improves,” says the analyst, who maintains a Buy rating and $232 price target on shares of Google parent Alphabet.
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