Goldman Sachs Lowers Estimates on Google (GOOG); Not Enough Info Regarding MMI Acquisition
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Price: $159.92 +1.25%
Rating Summary:
41 Buy, 6 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
41 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Goldman Sachs maintains a 'Neutral' on Google (NASDAQ: GOOG) price target of $640.00.
Analyst, Heather Bellini, basically said that GOOG's Q2 report was better than feared, but the debate on paid click and CPC growth with regard to mobile will continue.
Separately, Bellini felt some disappointment with the lack of information given out by GOOG regarding its recent acquisition of MMI. Google said the deal just recently closed and they'll need more time to evaluate its businesses. Based on the company's previous strategy, Bellini thinks it will take longer for a revelation, especially with the competitive dynamics of the smart phone and
tablet markets.
Goldman cuts FY12 EPS estimate from $35.75 to $35.09, FY13 from $41.92 to $40.96 and FY14 from $48.21 to $46.84.
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, Heather Bellini, basically said that GOOG's Q2 report was better than feared, but the debate on paid click and CPC growth with regard to mobile will continue.
Separately, Bellini felt some disappointment with the lack of information given out by GOOG regarding its recent acquisition of MMI. Google said the deal just recently closed and they'll need more time to evaluate its businesses. Based on the company's previous strategy, Bellini thinks it will take longer for a revelation, especially with the competitive dynamics of the smart phone and
tablet markets.
Goldman cuts FY12 EPS estimate from $35.75 to $35.09, FY13 from $41.92 to $40.96 and FY14 from $48.21 to $46.84.
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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