UPDATE - BGC Partners Downgraded Google (GOOG) to Hold; No Ho Ho Ho as Holiday Expectations Fall Short - Dead Money Til Summer

UPDATE - BGC Partners downgraded shares of Google (NASDAQ: GOOG) from Buy to Hold. PT cut from $650 to $625.

BGC analyst said, "We see that GOOG shares are range bound and stalled in the near term as the market digests the earnings miss, and the company focuses on closing its acquisition on Motorola (NYSE: MMI). We are negative on the impact of Motorola’s no-margin revenue and concerned that Google may pursue a strategy of selling subsidized hardware that could generate a near-term negative impact to margins."

We decrease our 2012 estimates to: $42.20 in adjusted EPS and $36.0B in net revenue. From $44.37 in adjusted EPS and $36.4B in net revenue.

We decrease our 2013 estimates to: $50.90 in adjusted EPS and $43.1B in net revenue. From $51.84 in adjusted EPS and $43.6B in net revenue.

To see more ratings on GOOG, Click Here

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