UPDATE: Topeka Capital Markets Maintains Buy Rating on Google on Waze Acquisition

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In a report published on Wednesday, Topeka Capital Markets analyst Victor Anthony reiterated a Buy rating for Google GOOG and maintained a $999.00 price target.

In the report, Topeka Capital Markets stated, "Waze would add a non-existent social layer to Google Maps, further strengthening its lead over Apple (APPL-$440.54:Buy) in the all important mapping category. Waze could leverage Google's advertising and engineering expertise to further develop and monetize the platform. The longer-term opportunity would be the combined integration of Google Maps, Waze, and Google Voice Search into telematics/navigation equipment and subsequently local/locationbased advertising and licensing opportunities."

Google closed Tuesday at $879.81.

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Posted In: Analyst ColorReiterationAnalyst RatingsTopeka Capital Markets
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