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Multi-front legal battles shouldnât crimp growth for Alphabet and Facebook in the next year, as the shares could rise another double-digits from where they currently trade, according to Goldman Sachs.
Analyst Heath Terry gave both stocks a Buy rating late Tuesday as he resumed coverage of the companies. He set a price target for Google parent Alphabet (ticker: GOOGL) at $2,250, which is 30% higher than its current price. Goldman has a $330 price target on Facebook (FB), which is 22% above its current trading price.
Big tech companies have been market winners this year, pushing the tech-heavy Nasdaq Composite 43% higher, nearly three times as much as the