Google (GOOG) PT Lifted to $670 at BofA/Merrill Lynch
BofA/Merrill Lynch analyst Justin Post reiterated a Buy rating and boosted his price target on Google (NASDAQ: GOOG) to $670.00 (from $660.00) following Q2 results.
The firm is raising 2014 total net revs/EPS to $53.0bn/$25.89 from $52.2bn/$25.73. For 2015E, they are raising revenues by 2%, taking rev/EPS to $63.2bn/$30.05 from $61.4bn/$29.38.
"We continue to see bigger brand advertiser spend, Google Play, and the maturity of product listing ads in Intl markets as drivers of potential 2014 revenue strength," Post said.
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Shares of Google closed at $573.73 yesterday.