Market Overview

UPDATE: Stifel Resumes Coverage Of Google

Share:
Related GOOG
How Will The FANG+ Trade Be Impacted By Brexit?
The Market In 5 Minutes: Brexit Worries Continue To Rock Stocks
Google Phone: Can't Be Good (Seeking Alpha)

Earlier Wednesday, Stifel released a noted in which it resumed coverage of Google (NASDAQ: GOOG) at a Buy rating with a $700 price target.

The firm noted, "The company is primarily finding growth in lower-margin segments such as Google Play (Android) and YouTube. However, second quarter results combined with commentary from large search engine marketers highlight to us that the company continues to find a way to drive greater monetization from its high-margin search business through the introduction and improvement of ad units."

Looking ahead, Stifel is predicting that Google will post a 12 percent CAGR for revenue through 2024. However, since the growth is largely in lower margin businesses, Stifel estimates the company's gross margin will decline from 60 percent in 2013 to 54 percent in 2024.

Latest Ratings for GOOG

DateFirmActionFromTo
Apr 2016Deutsche BankMaintainsBuy
Feb 2016Deutsche BankMaintainsBuy
Feb 2016JefferiesMaintainsBuy

View More Analyst Ratings for GOOG
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Initiation Analyst Ratings

 

Related Articles (GOOG)

View Comments and Join the Discussion!