Official announcements from the U.S. Department of Justice or Google

JPMorgan Downgrades $GOOGL to 'Market Perform' Amid DOJ Antitrust Risks, Chrome Sale Possible, Price Target $170

Jan 2, 2025, 11:58 AM

JPMorgan has downgraded Alphabet Inc. (GOOGL) to 'Market Perform' from 'Outperform' due to potential risks associated with ongoing antitrust litigation from the U.S. Department of Justice (DOJ). The downgrade reflects concerns that the DOJ may compel Google to divest its Chrome web browser, which could adversely affect Alphabet's stock performance in the coming months. Analysts at JMP Securities anticipate a decline in Alphabet's stock price, projecting it could fall into the $170 range before any potential recovery. This news follows a broader trend of downgrades for Alphabet amid heightened scrutiny over its business practices.