Happy B-Day Google (GOOG) - Evercore Boosts Price Target to $860
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Price: $886.25 +1.28%
Rating Summary:
40 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Rating Summary:
40 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
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Today is Google's 14th birthday and Evercore Partners boosted its price target on Overweight-rated Google (NASDAQ: GOOG) from $750 to $860, citing opportunity for higher click volumes and pricing.
"Based on our assessment of the leading 200 keywords within its Product and Travel categories across three geographies: U.S., U.K., & France, we believe the PLA changes can lead to click volume and pricing acceleration, given the potential for Google to better match consumer click supply with marketer demand," analyst Ken Sena said. "We also see this change as laying important groundwork for other verticals, such as Travel, in addition to dovetailing nicely with Google's local efforts, given higher anticipated AdWords adoption among SMBs."
Despite a 35% run-up in the shares in the last three months, Sena said the stock is still attractive given "favorable platform improvements and marketing trends, and growing advantage across all its major product areas, which is likely to only increase as mapping and social data become more deeply integrated."
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 $753.46 yesterday, with a 52 week range of $480.60-$764.89.
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"Based on our assessment of the leading 200 keywords within its Product and Travel categories across three geographies: U.S., U.K., & France, we believe the PLA changes can lead to click volume and pricing acceleration, given the potential for Google to better match consumer click supply with marketer demand," analyst Ken Sena said. "We also see this change as laying important groundwork for other verticals, such as Travel, in addition to dovetailing nicely with Google's local efforts, given higher anticipated AdWords adoption among SMBs."
Despite a 35% run-up in the shares in the last three months, Sena said the stock is still attractive given "favorable platform improvements and marketing trends, and growing advantage across all its major product areas, which is likely to only increase as mapping and social data become more deeply integrated."
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 $753.46 yesterday, with a 52 week range of $480.60-$764.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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