Citi Reiterates a 'Buy' on Google (GOOG), Price Target $450
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Citi reiterates a 'Buy' on Google (Nasdaq: GOOG). Price target $450.
Citi analyst says, "Unprecedented Macro trumps all. But Long-Term Long Thesis intact. Excluding FX, GOOG is likely a mid-teens revenue grower in ’09, during the most severe economic conditions most of us have ever experienced. What does that say GOOG’s revenue growth is like post the recession? And then layer in material new revenue opportunities in Mobile & Display & Video, and, arguably for the first time, real GOOG opex discipline."
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