Citi Upgrades Google (GOOG) to Buy as Valuation Becomes 'More Attractive'
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Price: $341.75 +1.05%
Rating Summary:
44 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
44 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Google (Nasdaq: GOOG) are trading up 4.27 percent on the day to $587.02 following closing down roughly 9 percent last week.
CitiGroup (NYSE: C) upgraded shares of GOOG to a Buy today following the 9 percent sell off noting that shares were trading below market multiples.
The firm last downgraded the stock to a Neutral rating back in April 2011, claiming it was due to aggressive spending and Facebook's market share growth. Citi claims that management has proven itself since then with strong revenue growth and notes that Facebook doesn't impose as much risk as previously forecasted.
CitiGroup (NYSE: C) upgraded shares of GOOG to a Buy today following the 9 percent sell off noting that shares were trading below market multiples.
The firm last downgraded the stock to a Neutral rating back in April 2011, claiming it was due to aggressive spending and Facebook's market share growth. Citi claims that management has proven itself since then with strong revenue growth and notes that Facebook doesn't impose as much risk as previously forecasted.
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