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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.