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Guggenheim cuts Alphabet PT on advertising slowdown

ReutersMar 27, 2025 10:57 AM

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

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