UPDATE: Deutsche Bank Raises PT to $935 on Google on Mobile Outlook
Deutsche Bank maintained Google (NASDAQ: GOOG) with a Buy and raises the price target from $850.00 to $935.00.
Deutsche Bank noted, "We see two emerging positives that are starting to shift sentiment from the “mobile is a liability” camp that have weighed on shares last year, to the “Google could be the best positioned online advertising company for mobile” camp, including: 1) the Enhanced Campaigns Adwords system overhaul and potential revenue increase, and 2) Mobile search is getting more profitable for Google, any way you slice the numbers. FB saw its market cap increase by 50% in fall 2012 when sentiment shifted from the mobile negative-to-positive camp, hence we continue to see upside to Google shares as these trends become more clear."
Google closed at $792.46 on Wednesday.
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