SunTrust Robinson Humphrey Reiterates Buy on Google on Positive Outlook
In a report published Monday, SunTrust Robinson Humphrey analyst Robert S. Peck reiterated a Buy rating and $1,125.00 price target on Google (NASDAQ: GOOG).
In the report, SunTrust Robinson Humphrey noted, “Given the still healthy growth of Google's more mature core advertising markets and products in addition to the early stage growth of its extended markets and ancillary businesses, we focus our valuation analysis on EV/EBITDA, P/FCF, and P/E metrics, keeping in mind the large investment trends. Our $1,125 target is based on 10x 2015 EV/EBITDA, 18x P/E and 18x P/FCF. As discussed in our initiation, Google continues to invest across existing and new businesses and we give greater consideration to EV/EBITDA and P/FCF in our target.”
Google closed on Friday at $903.11.
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