Wall Street Analysts Lower Alphabet Price Targets Following Third-Quarter Earnings

Major Wall Street brokerages reduced their price targets on Alphabet Inc. following the company's third-quarter earnings report, though most maintained constructive ratings. Evercore ISI cut its target to $435 from $450, KeyBanc adjusted its target to $385 from $410 while keeping an Overweight rating, and Barclays lowered its target to $405 from $425, also maintaining an Overweight rating. Bernstein SocGen Group cut its target to $325 from $385 and maintained a Market Perform rating, noting a 10% stock drop after Google Search growth decelerated despite five-year high query growth from artificial intelligence integration.