UPDATE: Goldman Sachs Increases PT to $640 on Google

Goldman Sachs raises its price target from $600 to $640 on Neutral-rated Google (NASDAQ: GOOG) as it believes the debate has not changed much following the company's Q1 report.

Goldman Sachs says, "We are raising our price target from $600 to $640 on higher earnings expectations. We are raising our non-GAAP EPS estimates for 2012/2013 to $42.90/$51.05 from $42.28/$50.96. As we believe Google needs a strong tablet presence, which will require associated subsidies over time, we continue to stay on the sidelines.

GOOG closed at $651.01 on Thursday.

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Tags: Goldman Sachs

Posted in: Analyst Color, Price Target, Reiteration, Intraday Update, Analyst Ratings

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