Google (GOOG) Q1 a 'Small Bump' - Piper Jaffray
Piper Jaffray analyst Gene Munster reiterated an Overweight rating and price target of $645 on Google (NASDAQ: GOOG) calling Q1 a "small bump in an otherwise clear road."
Munster commented, "Despite a slightly disappointing Q1, we believe Google remains on track to continue its steady trend of growth for its core business as it invests in other products like YouTube, Android, robotics, Fiber, and more. We continue to view Google as the best long term large cap story in our coverage space given the company's focus on innovation. Overall, despite the small blip from Q1 earnings, we are making minimal changes to numbers and believe that investors will likely quickly return to Google after processing the report."
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Shares of Google closed at $556.54 yesterday.