Needham & Company: Google (GOOG) Music Introduced with Compelling Features, but Initially Lacks Content to be Competitive

Needham & Company maintains a 'Buy' on Google (NASDAQ: GOOG) price target of $750.00.

Needham analyst says, "Google announced the public availability of Google Music at an event in Los Angeles on Wednesday. This announcement was expected given that Google’s music offering has been in private beta since May 2011 and speculation about the offering was widely discussed in the press. Google Music is differentiated by its cloud-based, streaming service and compelling features, such as sharing, but we believe the lack of content could be seen as disappointing."

For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.

Shares of Google closed at $611.47 yesterday.

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