Needham & Company Reiterates a 'Buy' on Google (GOOG); Raising Estimates as Businesses are Well Positioned to Capitalize
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Price: $343.54 -0.12%
Rating Summary:
44 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Rating Summary:
44 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
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Needham & Company reiterates a 'Buy' on Google (NASDAQ: GOOG) price target raised from $725 to $750.
Needham analyst says, "We expect momentum to carry over into 4Q11 as the seasonal strength benefits all aspects of Google’s business. Search should remain the primary engine of growth, but we expect Google to also benefit from increased advertising budget directed towards YouTube’s growing audience. We believe Google should gain market share in Display given its differentiated end-to-end ecosystem. We expect Android to continue its rapid growth as devices and mobile campaigns proliferate."
Needham raises FY11 EPS estimate from $36.49 to $37.56 and FY12 from $43.25 to $46.40.
For more ratings news on Google click here and for the rating history of Google click here.
Shares of Google closed at $558.99 yesterday.
Needham analyst says, "We expect momentum to carry over into 4Q11 as the seasonal strength benefits all aspects of Google’s business. Search should remain the primary engine of growth, but we expect Google to also benefit from increased advertising budget directed towards YouTube’s growing audience. We believe Google should gain market share in Display given its differentiated end-to-end ecosystem. We expect Android to continue its rapid growth as devices and mobile campaigns proliferate."
Needham raises FY11 EPS estimate from $36.49 to $37.56 and FY12 from $43.25 to $46.40.
For more ratings news on Google click here and for the rating history of Google click here.
Shares of Google closed at $558.99 yesterday.
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