UPDATE: Barclays Initiates Coverage On Google
In a note released Thursday, Barclays initiated coverage on Google (NASDAQ: GOOG) at Overweight with a $650 price target.
Looking at the internet sector as a whole, the analysts at Barclays provided the following list of themes which they believe will be the main drivers of growth.
- Increased buying power of the digital generation
- Identification and personalization - knowing who and where you are, as well as what you like to do
- Search and email will remain a large factor
- Power of scale - dominance created by the 'network effect'
- New conglomerates emerging
- Monetization outside the U.S.
- Becoming embedded in daily behavior
- Privacy and security
Analysts at Barclays wrote, "Google benefits from the majority of our themes, in our view, and with a reasonable valuation on both P/E and FCF, we see it as a core holding for the next few years."
Latest Ratings for GOOG
|Jan 2017||Pacific Crest||Reinstates||Overweight|
|Jul 2016||JP Morgan||Maintains||Overweight|
|Apr 2016||Deutsche Bank||Maintains||Buy|
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