Citizens downgrades Alphabet to Market Perform; BofA raises Microsoft target to $630 (Oct 29)

What happened

In today's analyst roundup (per CNBC), Citizens downgraded Alphabet (GOOGL) to Market Perform from Outperform after third-quarter search growth slowed by about 5 points from Q2 to Q3; JPMorgan maintained its Overweight rating. Bank of America raised its Microsoft (MSFT) price target to $630 from $600 after Wednesday's earnings and reiterated a Buy rating. Goldman Sachs reiterated Apple as a Buy, BofA maintained its Tesla Buy and $460 target, and StoneX reiterated Nvidia as a Buy.

Who’s affected

• GOOGL - downgrade compounds post-earnings pain; Street target bar resets lower
• MSFT - target raise and Buy reiteration support continued rotation toward monetizers
• Mag 7 as a group - narrative reinforcement of winners vs. losers split

Sources

binance.combusinessday.co.za