Benchmark Raises PT and Estimates on Google (GOOG); Q2 Better Than Feared
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Price: $161.10 --0%
Rating Summary:
41 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 5
Rating Summary:
41 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 5
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Benchmark maintains a 'Hold' on Google (NASDAQ: GOOG) price target of $625.00 (from $615.00).
Analyst, Clayton F. Moran, said, "Core net revenue growth was 21% y/y below the Street at 22% but better than our 19%-20% expectation. Organic growth was steady at 25%. We believe search improvements along with mobile and display growth offset a slowing in search queries. We raise our 2012E EPS from $42.50 to $42.90...We wait for improving operating trends before turning positive."
Moran also notes an incremental positive: Google's CFO commented on a possible stock buyback plan, sounding more open to the idea than in the past. (GOOG has $35 billion in cash)
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 $593.06 yesterday.
Analyst, Clayton F. Moran, said, "Core net revenue growth was 21% y/y below the Street at 22% but better than our 19%-20% expectation. Organic growth was steady at 25%. We believe search improvements along with mobile and display growth offset a slowing in search queries. We raise our 2012E EPS from $42.50 to $42.90...We wait for improving operating trends before turning positive."
Moran also notes an incremental positive: Google's CFO commented on a possible stock buyback plan, sounding more open to the idea than in the past. (GOOG has $35 billion in cash)
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 $593.06 yesterday.
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