Wells Fargo Lowers Alphabet's Price Target to $416 but Maintains Overweight Rating
On July 2, Wells Fargo reduced its price target for Alphabet (GOOGL) from $435 to $416 while keeping an 'Overweight' rating. Analyst Ken Gawrelski cited continued strength in core advertising and strong cloud revenue growth forecasts as reasons for the positive outlook.
Topics: AI Chips Alphabet Revenue Growth Stock Rating Wells Fargo