BofA Global Research's reaffirmation of its "Buy" rating for Alphabet Inc. (GOOGL) and the increased price target to $225 have not significantly swayed market sentiment today. The report emphasizes the dual impact of AI competition and regulatory challenges, while also highlighting potential growth from AI advancements and cost management. Despite a reduction in EPS estimates for the coming years due to foreign exchange factors, the long-term outlook remains positive. However, these optimistic projections have not translated into immediate upward momentum for Alphabet's stock, as it faces ongoing market pressures.
The Direxion Daily GOOGL Bull 1.5X Shares (GGLL) experienced a slight decline, falling 0.28% to $46.15 at 10:00 AM on Tuesday, January 14.