Street Estimates For GOOG Appear Conservative
Analysts at Kaufman Bros reiterate their “buy” rating on Google (NASDAQ: GOOG), while raising their estimates for the company. The target price for GOOG has been raised from $645 to $740.
Google is scheduled to announce its 4Q results tomorrow. The analysts expect GOOG to beat the consensus expectations for revenue and PF EPS. SEM checks indicate 10%-15% sequential growth, fueled by a strong performance in eCommerce. Kaufman Bros believes that the Street estimates for 2010 are conservative.
Kaufman Bros has raised its pro forma EPS estimates for 4Q and 2010 from $6.64 to $6.74 and from $28.00 to $28.39, respectively.
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