Google (GOOGL) (GOOG) PT Lowered to $630 at Macquarie Post Q3

Macquarie analyst Ben Schachter lowered his price target on Google (NASDAQ: GOOGL) to $630.00 (from $650.00) but maintained an Outperform rating following Q3 results.

Schachter commented, "Overall, a somewhat messy quarter, though nothing was dramatically negative. We remain long-term bulls, but we are concerned about 4Q comps, limited visibility into core revenue and expense drivers, and the fact that many significant investments are geared toward mid-long-term initiatives that will take time to generate revenue. We continue to recommend the stock for long-term shareholders, but don’t expect a significant rebound in 2014. "

The firm's 2015 EPS estimate declines by $1.58 (~5%).

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 $536.92 yesterday.

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