Analyst Ups Google (GOOG) Price Target to $850
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Price: $345.31 -2.27%
Rating Summary:
43 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 6 | New: 26
Rating Summary:
43 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 6 | New: 26
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ThinkEquity reiterated a Buy rating on Google (NASDAQ: GOOG) and increased its price target to $850.00 (from $735.00).
Analyst Ronald Josey said "We expect Google to report solid 3Q12 results that are in-line to slightly ahead of our projections. We believe that the overall search advertising environment was relatively healthy in 3Q, that new businesses such as mobile, display, and shopping continues to gain share."
Given an improved environment and new products like Product Listing Ads, Josey thinks Google should be able to drive solid quarterly revenue.
"Google launched over 80 ads quality improvements in 3Q and given a full quarters contribution from 2Q12 quality improvements like Exact Match and improved geo-targeting, we expect solid monetization trends this quarter," said Josey.
Josey also said he would not be surprised if Google updates its mobile revenue run rate.
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 $744.56 yesterday.
Analyst Ronald Josey said "We expect Google to report solid 3Q12 results that are in-line to slightly ahead of our projections. We believe that the overall search advertising environment was relatively healthy in 3Q, that new businesses such as mobile, display, and shopping continues to gain share."
Given an improved environment and new products like Product Listing Ads, Josey thinks Google should be able to drive solid quarterly revenue.
"Google launched over 80 ads quality improvements in 3Q and given a full quarters contribution from 2Q12 quality improvements like Exact Match and improved geo-targeting, we expect solid monetization trends this quarter," said Josey.
Josey also said he would not be surprised if Google updates its mobile revenue run rate.
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 $744.56 yesterday.
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