Major Bank Ratings | JPMorgan: Lowers Alphabet's target price to $420, recommends investors buy on price dips

```htmlGolden Ten Data, July 27｜JPMorgan released a research report stating that Alphabet's second quarter revenue, excluding currency effects, accelerated to a year-on-year growth of 23%. Management raised the 2026 capital expenditure guidance from $180-190 billion to $195-205 billion and anticipates a further significant increase in 2027. In addition, the second quarter operating profit margin was 34%, slightly below the bank's forecast of 34.4%. JPMorgan reiterated its "Overweight" rating on Alphabet and set a December 2027 target price of $420, compared to the previous December 2026 target price of $460. The bank also advised investors to buy the stock when prices fall.```