Why Alphabet Stock Fell Today
Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) stock ended Thursday's trading session in the red. The company's share price fell 1.4% in a day of trading that saw the S&P 500 (SNPINDEX: ^GSPC) rise 0.1% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fall 0.1%.Alphabet stock swung from being up as much as 1% to down as much as 3% as investors reacted to differing catalysts. While a pair of new analyst price targets suggested there was still significant upside for the stock, shares moved lower following news that the company had received an unfavorable antitrust ruling.Before the market opened this morning, Morgan Stanley published new coverage that reiterated its overweight rating on Alphabet. While the firm lowered its one-year target on the stock from $210 per share to $185 per share, the new target still suggested roughly 20% upside compared to its price when the market opened today.Continue reading
Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) stock ended Thursday's trading session in the red. The company's share price fell 1.4% in a day of trading that saw the S&P 500 (SNPINDEX: ^GSPC) rise 0.1% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fall 0.1%.
Alphabet stock swung from being up as much as 1% to down as much as 3% as investors reacted to differing catalysts. While a pair of new analyst price targets suggested there was still significant upside for the stock, shares moved lower following news that the company had received an unfavorable antitrust ruling.
Before the market opened this morning, Morgan Stanley published new coverage that reiterated its overweight rating on Alphabet. While the firm lowered its one-year target on the stock from $210 per share to $185 per share, the new target still suggested roughly 20% upside compared to its price when the market opened today.
