Google's Antitrust Victory Has Wall Street Lifting Alphabet Stock's Price Targets - Retail Traders Eye Multi-Month Rally

Alphabet, Inc.'s (GOOGL) (GOOG) partly-positive antitrust ruling that allows the company's Chrome browser triggered positive reactions from Wall Street analysts tracking the stock.

Wedbush tech analyst Daniel Ives was among those who acted early and pushed up their price targets for the Alphabet stock. In a post on X, the analyst said,“We are increasingly constructive in the longer-term durability of Google's Search business and are raising our estimates accordingly,” citing the federal court ruling. 

Ives upped the price target for the stock to $245 from $225, implying 16% upside from Tuesday's close. He maintained an 'Outperform' rating for the stock.

The analyst also stated that he now expects Apple to form a Gemini artificial intelligence (AI) partnership with Google. 

In a quick review published just after the verdict, Ives said both Google and Apple got a“massive win” due to the court allowing the continuation of Google's search deal with Apple. 

Calling the verdict a“monster win” for both Apple and Alphabet, Ives said,“It's a home run ruling that removes a huge overhang on the stock. 

“While in theory Google is barred from 'exclusive deals' for search, this now lays the groundwork for Apple to continue its deal and ultimately likely double down on more AI-related partnerships with Google Gemini down the road.”

Deepwater Asset Management Managing Partner Gene Munster said,“Investors can now turn the page and focus on the meaningful progress the company is making with AI Overviews and AI Mode.”

Oppenheimer upped the price target for Alphabet stock to $270 from $235, with the updated target suggesting the stock has scope for a 28% rally from Tuesday's closing level.

The firm has an 'Outperform' rating for the stock.

The Department of Justice monopoly remedy is the“best-case” outcome for Alphabet and removes the medium-term overhang on shares, the firm added. It also believes that the path is now clear for an Alphabet-Apple AI partnership.

On Stocktwits, retail sentiment toward Alphabet stock improved to 'extremely bullish' (86/100)  by early Wednesday from 'bullish' a day ago. The message volume picked up pace to 'extremely high' levels.

A bullish watcher said they would buy more Alphabet shares on Wednesday morning, as they expect the stock to climb for months. 

Another user said big corporations always win under President Donald Trump.“I felt confident buying Google under $200 and getting paid BIGLY. Congrats, longs,” they said.

Alphabet stock's year-to-date (YTD) gain is about 12%.

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