Benchmark Downgrades Google (GOOG) to Hold; Weak Europe and Possible US Slowing

Benchmark downgraded Google (NASDAQ: GOOG) from Buy to Hold with a price target of $700.00.

Benchmark analyst said, "4Q11 data and channel checks indicate strong domestic online advertising but a severe slowdown in Europe. The 1H12 US outlook appears increasingly uncertain with advertisers expressing hesitation. While Google’s stock is up in anticipation of a strong 4Q11, we fear 1H12 may prove disappointing."

"We lower 2012E revenue growth to 19% compared to Street consensus of 23% with EPS of $42.95, $1.00 below the Street. Google is trading at 16x 2012E EPS."

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 $668.28 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tuta Mail Files Google Complaint Under EU Tech Rules - Reuters
• Citi Downgrades Molson Coors (TAP) to Sell, 'Cycling 2023 Could Be a Mountain Too Hard to Climb'
• JPMorgan Downgrades Beijing Easpring Material Technology Co Ltd. (300073:CH) to Underweight