Google (GOOG) PT Lifted to $690 at Baird

Baird analyst Colin Sebastian reiterated an Outperform rating and boosted his price target on Google (NASDAQ: GOOG) to $690.00 (from $675.00)

Sebastian commented, "Core business drives solid Q2. Accelerating top-line growth highlighted Q2 results, due largely to strong International performance. Key metrics were in line with expectations (paid clicks and CPCs), while operating leverage drove EBITDA upside. On the bottom line, EPS was slightly below consensus due to hedging expenses and higher tax rate. We believe Google will continue to benefit from multiple long-term growth opportunities (e.g., mobile, video, enterprise, local, wearables, etc.) and remains our top large-cap pick."

The firm lowered FY 2014 EPS from $27.47 to $26.97 and raised FY 2015 EPS from $31.12 to $31.31.

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 $573.73 yesterday.

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