Shares of Alphabet (GOOG, GOOGL) is sliding after Morgan Stanley reduced its price target on the tech giant. The bank lowered its target to $190 from $205, citing ongoing legal challenges with the US Department of Justice (DOJ) related to accusations of antitrust violations and monopolistic practices.
According to analyst Brian Nowak, these issue could take several years to resolve— potentially impacting the company’s long-term outlook.
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This post was written by Angel Smith