Baird Reiterates an 'Outperform' on Google (GOOG); Mum on Motorola

July 20, 2012 9:25 AM EDT
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Baird reiterates an 'Outperform' on Google (NASDAQ: GOOG) price target of $750.00.

Analyst, Colin Sebastian, said, "Last night, Google reported generally in-line Q2 results (revenues a little light, EPS a little ahead), with no big surprises despite negative sentiment ahead of the print. On the positive side, a slight sequential increase in CPC pricing, 42% click volume growth and stable core margins helped offset F/X pressures, Europe weakness and the impact from users shifting to mobile."

"We are adding $6.1 billion to our 2H 2012 top line estimate, and $12.2 billion to 2013. In terms of EPS, we expect MMI will be slightly dilutive, and we are lowering our 2012 and 2013 EPS estimates to $42.92 and $50.60, from $43.27 and $52.40, respectively."

For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.

Shares of Google closed at $593.06 yesterday.

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