Google (GOOG) Price Target Raised to $645 at Deutsche Bank

Deutsche Bank maintained a Buy rating on Google (NASDAQ: GOOG) and raised its price target to $645.00 (from $625.00). The change follows Q2 results.

"Google is one of the only “mega-cap-tech” companies growing north of 20%, while experiencing accelerating growth and stabilizing margin, yet shares are only at 20x EPS. 2Q14 results were slightly above consensus on both revenue and EBITDA, with EPS below on a higher tax rate. Google is successfully transitioning its business from PC to mobile, and is arguably in a more favorable position in mobile than it was in PC, which should eventually be reflected in a higher multiple. We have raised our revenue and EBITDA for 2015. Google remains a top pick," said analyst Ross Sandler.

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 $573.73 yesterday.

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