11:19 AM EDT, 09/03/2025 (MT Newswires) -- The court ruling on the US antitrust case against Google ( GOOG ) has removed a "meaningful headwind" on the multiple of its holding company Alphabet (GOOG, GOOGL), RBC Capital Markets said in a Tuesday note.

US District Judge Amit Mehta ruled that Google ( GOOG ) does not have to divest its Chrome web browser, but will be barred from exclusive contracts related to the distribution of Google Search, Chrome, Google Assistant, and the Gemini app.

"Ultimately, the judge's decision largely surrounded opening up portions of Google's ( GOOG ) search technology to competitors rather than trying to disrupt its distribution framework which seemed like the more adverse risk to us," said RBC.

According to RBC, the "most impactful" aspect of the ruling is mandating Google ( GOOG ) to offer syndication services to qualified competitors that could include large language model providers.

RBC raised its price target on the stock to $260 from $220 while keeping its outperform rating, saying that "the most significant overhang" on the multiple is now largely removed.

Alphabet shares were up over 8% in recent Wednesday trading.

Price: 229.87, Change: +17.88, Percent Change: +8.43