Google Shares Dip Despite Optimism At FBR Capital

Following a coverage initiation from FBR Capital analyst William Bird, shares of Google GOOG GOOGL have dipped more than one percent. Bird began his coverage of Google with an Outperform rating and a $674 price target.

"Google is an attractive large-cap GARP media investment with one of the widest moats in media and a good deal of optionality around extending its competitive advantage into display advertising, digital content, travel, and payments," wrote Bird.

Additionally, Bird noted that Google offers "very attractive" exposure to key structural growth areas of the internet.