BUZZ-Guggenheim cuts Alphabet PT on advertising slowdown

Reuters2025-03-27
BUZZ-Guggenheim cuts Alphabet PT on advertising slowdown

** Guggenheim cuts PT on Google-parent Alphabet GOOGL.O to $190 from $215

** Cites softening brand advertising environment

** "Our most recent advertiser checks indicate slower brand ad demand in March with the trend likely to continue into Q2, while performance advertising has been more resilient with search performing best," says brokerage

** Adds, uncertainty regarding risk to Google search share and the economics of AI-powered search results might limit investor enthusiasm and multiple expansion

** New PT is ~15% upside to stock's last close

** Forty-five of 57 brokerages rate stock "buy" or higher, and 12 "hold"; median PT is $220 - data compiled by LSEG

** GOOGL shares down ~13% YTD, as of last close; they rose ~36% in 2024

(Reporting by Ateev Bhandari in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com;))

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