Benchmark Raises PT and Estimates on Google (GOOG); Q2 Better Than Feared
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Price: $906.97 -0.17%
Rating Summary:
40 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
40 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade GOOG Now!
Benchmark maintains a 'Hold' on Google (NASDAQ: GOOG) price target of $625.00 (from $615.00).
Analyst, Clayton F. Moran, said, "Core net revenue growth was 21% y/y below the Street at 22% but better than our 19%-20% expectation. Organic growth was steady at 25%. We believe search improvements along with mobile and display growth offset a slowing in search queries. We raise our 2012E EPS from $42.50 to $42.90...We wait for improving operating trends before turning positive."
Moran also notes an incremental positive: Google's CFO commented on a possible stock buyback plan, sounding more open to the idea than in the past. (GOOG has $35 billion in cash)
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, with a 52 week range of $480.60-$670.25.
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Analyst, Clayton F. Moran, said, "Core net revenue growth was 21% y/y below the Street at 22% but better than our 19%-20% expectation. Organic growth was steady at 25%. We believe search improvements along with mobile and display growth offset a slowing in search queries. We raise our 2012E EPS from $42.50 to $42.90...We wait for improving operating trends before turning positive."
Moran also notes an incremental positive: Google's CFO commented on a possible stock buyback plan, sounding more open to the idea than in the past. (GOOG has $35 billion in cash)
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, with a 52 week range of $480.60-$670.25.
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