Canaccord Genuity Maintains a 'Buy' on Google (GOOG); Sizing the Mobile Opportunity
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Price: $343.00 --0%
Rating Summary:
44 Buy, 6 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 9 | Down: 14 | New: 6
Rating Summary:
44 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 14 | New: 6
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Canaccord Genuity maintains a 'Buy' on Google (NASDAQ: GOOG), PT $800.
Canaccord analyst, Heath Terry, said, "Mobile clearly represents a massive opportunity for Google in a variety of ways, existing and emerging; in this note, we attempt to quantify the size of the opportunity. We forecast Google’s mobile revenues growing from $2.5B in 2011 to $14B in 2015. While some cannibalization of Google’s PC growth is likely, we anticipate the vast majority of this growth will be additive. While regulatory pressures, competition, and investment spending are likely to continue to weigh on shares near term, we believe accelerating growth driven by search, mobile, display and local, particularly at 11x ’12E EPS, will begin to overwhelm those concerns."
For more ratings news on Google click here and for the rating history of Google click here.
Shares of Google closed at $474.88 yesterday.
Canaccord analyst, Heath Terry, said, "Mobile clearly represents a massive opportunity for Google in a variety of ways, existing and emerging; in this note, we attempt to quantify the size of the opportunity. We forecast Google’s mobile revenues growing from $2.5B in 2011 to $14B in 2015. While some cannibalization of Google’s PC growth is likely, we anticipate the vast majority of this growth will be additive. While regulatory pressures, competition, and investment spending are likely to continue to weigh on shares near term, we believe accelerating growth driven by search, mobile, display and local, particularly at 11x ’12E EPS, will begin to overwhelm those concerns."
For more ratings news on Google click here and for the rating history of Google click here.
Shares of Google closed at $474.88 yesterday.
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