Wells Fargo notes that Google has filed a lawsuit and a company blog detailing its proposed remedies in the Justice Department’s search case. The company believes that Google’s proposals leave little room for settlement negotiations with the DOJ and likely guarantee an appeal and resolution within two to three years. The overhang will remain, but Wells sees no meaningful court-ordered changes to distribution relationships in the short term. The company has an Equal Weight rating for the stock with a price target from $187.
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