Google (GOOG) Estimates, Target Raised at Needham & Company on Solid Q3

October 18, 2013 7:52 AM EDT
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Price: $802.69 -0.64%

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    53 Buy, 7 Hold, 2 Sell

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Needham & Company analyst Kerry Rice lifted his price target on Google (NASDAQ: GOOG) from $1,000 to $1,150 Friday following solid Q3 results.

"We continue to like Google heading into Q4 as we expect paid clicks growth to remain solid, offsetting a continued decline in CPC rates due to the higher mix of ROW and mobile," Rice said. "We expect Enhanced Campaigns to make a modest positive impact as advertisers continue to adjust their models."

The firm raised FY 2013 EPS estimates from $42.43 to $44.08 and FY 2014 EPS from $50.77 to $53.83.

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 $888.79 yesterday.

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