The ad scandal that has seen major advertisers like Verizon  (VZ) - Get ReportAT&T (T) - Get Report and the British government withdraw ads from Google  (GOOGL) - Get Report platforms will not impact the company's bottom line, analysts at Morgan Stanley wrote while reiterating the company's "overweight" rating. 

"We believe Google's revenue is diversified across millions of clients - with the top 100 ad spenders likely representing less than 20% of total ad revenue - given the strength of its core search product," analyst Brian Nowak wrote. 

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