Alphabet Shares Surge as Court Delivers Favorable Antitrust Ruling

A federal court in Washington has handed Alphabet, Google’s parent company, a significant victory in a major antitrust case that has spanned nearly five years. The ruling dismissed the most severe demands from the U.S. Department of Justice, sparking substantial investor relief and triggering a notable rally in the company’s share price. This legal outcome provides crucial clarity about the technology giant’s future operational landscape.

Wall Street reacted immediately to the favorable court decision. Alphabet shares jumped 8% in after-hours trading following the announcement. Financial institutions quickly revised their outlooks, with RBC Capital elevating its price target from $220 to $260, citing the clearest path to earnings growth and multiple expansion seen in some time. Similarly, Wedbush Securities increased its target... Read more...