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The sizable target reduction is a negative revision, though the analyst's new target still implies upside from the posted price.
What happened, with direct paths to the underlying reporting
Cantor Fitzgerald lowered its GOOGL target from $420 to $350, a substantial reduction. The new target remains above the posted price of $324.89, so this is bearish relative to the prior view, not a below-market target.
Target: $350
Posted price: $324.89
Analyst firm: Cantor Fitzgerald
Analyst: Deepak Mathivanan
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