Google (GOOGL) (GOOG) Price Target Raised to $672 at FBR Capital Post Q1
FBR Capital analyst reiterated an Outperform rating and boosted his price target on Google (NASDAQ: GOOGL) (NASDAQ: GOOG) to $672.00 (from $632.00) following results after the close.
Analyst William Bird commented, "Google delivered in-line-ish EPS ($6.57 vs. the Street’s $6.61) and a clean operating profit beat ($98M above the Street) despite a currency-driven $133M revenue shortfall. Given low buyside expectations into the print and bear thesis-busting positive commentary on underlying pricing, the stock is likely to respond positively. We are increasing our PT to $672 (prev. $632) as we rotate forward to 2016 estimates. Google offers attractive exposure to the highest-growth online verticals and good potential for improved mobile ad pricing. Factors that could lift the shares higher include improved mobile monetization, more moderate expense growth, and potential capital returns."
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Shares of Google closed at $547.00 yesterday.