Evercore Partners Maintains an 'Overweight' on Google (GOOG); Making Room for Motorola
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Price: $873.32 -1.07%
Rating Summary:
40 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
40 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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Evercore Partners maintains an 'Overweight' on Google (NASDAQ: GOOG) price target of $750.00.
Analyst, Ken Sena, said, "Google continues to demonstrate improvement within Search, strengthening advantage within Display , optionality in local and attractive valuation. Google trades at just 7.1x EBITDA and 13.7x EPS on our 2013 estimates, inclusive of SBE, compared to our ~20% L/T growth expectation."
"For 3Q 12, we are raising net revenues 6.8%, to $12.2 billion from $11.4 billion, which reflects a 30% increase in MMI revenues. However, consistent with the revenue increase, we are raising COGS by 27% to reflect MMI's lower margin structure and overall opex by 10%. We are lowering adj. EBIT margin to 32% from 36.3% and lowering EPS from $10.50 to $9.93."
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, Ken Sena, said, "Google continues to demonstrate improvement within Search, strengthening advantage within Display , optionality in local and attractive valuation. Google trades at just 7.1x EBITDA and 13.7x EPS on our 2013 estimates, inclusive of SBE, compared to our ~20% L/T growth expectation."
"For 3Q 12, we are raising net revenues 6.8%, to $12.2 billion from $11.4 billion, which reflects a 30% increase in MMI revenues. However, consistent with the revenue increase, we are raising COGS by 27% to reflect MMI's lower margin structure and overall opex by 10%. We are lowering adj. EBIT margin to 32% from 36.3% and lowering EPS from $10.50 to $9.93."
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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