Bank of America Lowers Estimates on Google

According to a research report this morning, Bank of America lowers estimates on Google (NASDAQ: GOOG) for 2013 EPS from $50.50 to $49.54 following acquisition with Motorola Mobility (NYSE: MMI).

Bank of America explained, “Our fear for stock for now is that buyside pessimism on Motorola increases into July earnings given Google's lack of disclosure and recent weaker-than-expected results from RIMM (NASDAQ: RIMM). Google would prefer that the street focuses just on Google's core advertising business.”

Google closed Friday at $570.98 as Bank of America maintains its Buy rating and $750 PT.

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