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UPDATE: Goldman Sachs Reiterates Neutral Rating, Raises PT on Google

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In a report published Wednesday, Goldman Sachs Group reiterated its Neutral rating on Google (NASDAQ: GOOG), and raised its price target from $680.00 to $700.00.

Goldman Sachs noted, “All in, we believe the quarter was good but not enough to change the debate around the company's revenue mix impacting both its gross and operating margins going forward. We continue to remain on the sidelines and prefer Facebook over Google. We are lowering our CY13E non-GAAP EPS from $48.54 to $45.35. This is due to our higher expected Google standalone revenues which are offset by (1) higher TAC-related fees, higher total expenses, and lower other income (roughly $1.25 negative impact), (2) moving Motorola Home to discontinued ops ($1.10 negative impact based on our view prior to the 4Q12 call that this segment was operating at a slight profit), and (3) reduced Motorola Mobile estimates ($0.85 negative impact).”

Google closed on Tuesday at $702.87.

Latest Ratings for GOOG

DateFirmActionFromTo
Jul 2015Credit SuisseMaintainsOutperform
Jul 2015B. RileyMaintainsBuy
Jun 2015Mizuho SecuritiesInitiates Coverage onNeutral

View More Analyst Ratings for GOOG
View the Latest Analyst Ratings

Posted-In: Goldman Sachs GroupAnalyst Color Price Target Analyst Ratings

 

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