Citi Adds Google (GOOG) to 'Top Picks Live' List as Top Internet Pick; Removes Expedia (EXPE)
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Citi says Google Inc (Nasdaq: GOOG) becomes 'Top Internet Pick', removes Expedia (Nasdaq: EXPE) from 'Top Picks Live' list. GOOG price target $630.
Citi analyst says, "Based on the results of proprietary research into GOOG's near-/medium-/long-term outlooks and on what presents itself as a highly favorable Risk-Reward outlook, we are making GOOG our #1 choice for Top Picks Live."
Citi analyst says, "Factors behind multiple reduction: 1) Lack of aggressive share buyback plans...2) Weakening European macro trends...3) Weakening European travel trends...4) Increasing Search advertising competition." Citi maintains a 'Buy' rating on EXPE, but lowers price target from $37 to $31.
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