Jefferies Reiterates Buy for Alphabet Amid AI Leadership; Rosenblatt Downgrades to Neutral, Lowers PT to $181

On June 26, Jefferies reiterated its 'buy' rating for Alphabet, citing a survey of over 1,500 consumers and office workers that positions Alphabet as a leader in AI mindshare. However, on June 28, Rosenblatt Securities downgraded Alphabet to 'Neutral' from 'Buy' and lowered its price target to $181 from $182. Rosenblatt's concerns include the impact of AI on search, potential search share loss to Bing, and other transitional risks.