Canaccord Adams Assumes Coverage on Google (GOOG) with a Hold
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Canaccord Adams assumes coverage on Google (Nasdaq: GOOG) with a Hold. Price target $300.
Canaccord analyst says, "Following the completion of our recent Internet ad trends survey, we believe that the tide on performance-based advertising as a countercyclical ad format better able to weather a downturn has shifted, and we expect to see CPC pricing and the density/volume of clicks to decline. Our checks support the thesis that while Google continues to have various levers at its disposal to meet estimates, revenue estimates could be at risk with search representing the company’s primary source of revenue. YouTube continues to represent a tremendous opportunity going forward, but material monetization of its video traffic is not expected in the near term as Google continues to experiment with different ad formats to maximize the quality of its user experience."
Google Inc. maintains an index of Websites and other online content, and makes this information freely available to anyone with an Internet connection.
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