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CA - Google: Time To Press Pause (Rating Downgrade)
CA Inc.
2024-06-26 15:14:15 ET
Summary
After a 19% gain since April, I now issue a Hold rating due to current valuations. I believe in Alphabet's long-term growth but see limited value at present.
Alphabet's Gemini models face current user experience issues. Despite this, long-term AI growth is promising, supported by CEO Sundar Pichai's vision and ethical approach.
Alphabet shows strong cloud growth but faces competition and regulatory risks. A 10-year price target of $823.75 implies a 15.5% CAGR, but caution is warranted.