Canaccord Genuity Reiterates a 'Buy' on Google (GOOG); Q4 Results: Shortfall and Concerns, but Thesis Intact
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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: 13 | Down: 14 | New: 11
Rating Summary:
44 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity reiterates a 'Buy' on Google (NASDAQ: GOOG) price target cut from $725 to $700.
Analyst Michael Graham, said, "We believe Google missed numbers almost entirely on currency dynamics with a much smaller impact from unfavorable traffic mix. While results were disappointing, these issues should pass, and underlying growth-predicting metrics were strong."
"We are modeling a dip in H1/2012 until pricing can recover, and are lowering our 2012 and 2013 EPS estimates to $43.51 (from $46.42) and $52.47 (from $55.48), respectively."
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 $639.57 yesterday.
Analyst Michael Graham, said, "We believe Google missed numbers almost entirely on currency dynamics with a much smaller impact from unfavorable traffic mix. While results were disappointing, these issues should pass, and underlying growth-predicting metrics were strong."
"We are modeling a dip in H1/2012 until pricing can recover, and are lowering our 2012 and 2013 EPS estimates to $43.51 (from $46.42) and $52.47 (from $55.48), respectively."
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 $639.57 yesterday.
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