Why Alphabet Stock Popped on Monday
Two analysts duel over Alphabet. Which one is right?
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) stock inched higher in Monday trading as the market turned green again on positive news of a moderation of President Trump's tariffs on electronic goods. As of 11:05 a.m. ET, the stock is up a modest 2.3%.
Also perhaps encouraging investors was a not-too-negative note on Alphabet from investment bank Citigroup.
As StreetInsider.com reported this morning, Citi has trimmed its price targets on several internet stocks based on its guesses as to how the tariffs, and a generally slowing economy, might depress growth prospects in this sector. Broadly speaking, Citi is reducing its forecast for both revenue and profits growth, but leaving its $195 price target for Alphabet in particular intact.
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