Benchmark Has Buy on Google

Benchmark is out with a research report on Google Inc. GOOG and it has a Buy rating and a $700 price target on shares. In a note to clients, Benchmark writes, "We anticipate strong 3Q11 results when Google reports earnings on Thursday. Macroeconomic slowing has had some impact on the online advertising industry but Google's trends are intact with powerful momentum in display. Our 3Q11 estimates reflect 31% and 13% y/y growth in net revenue and adjusted EPS, respectively. Our rating remains Buy." Shares of GOOG gained $22.05 yesterday to close at $537.17, a gain of 4.28%.