Collins Stewart Starts Google (GOOG) at Buy; Good Entry Point On Overblown Concerns

Collins Stewart initiates coverage on Google (NASDAQ: GOOG) with a Buy. PT $680.

Collins analyst says, "Google should grow at a 17% CAGR for the next 2 years. Key growth drivers are: 1) 14% CAGR growth in global online advertising due to secular shift from offline to online; 2) international search growth driven by growing internet penetration; 3) Google's exposure to high growth pockets of display like online video (YouTube) and ad exchanges (DoubleClick) and 4) incremental search volume from mobile devices. In addition, Android operating system is a $5B+, high margin opportunity that is yet to be monetized...Margin and management-related concerns overblown."

For more ratings news on Google click here and for the rating history of Google click here.

Shares of Google closed at $521.03 yesterday.

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