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UBS Raises estimate and price target for Google (NASDAQ:GOOG)
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Posted on 11/19/09 at 10:44am by BenzingaStaff3
Today, UBS Investment Research maintained their “Buy” rating on Google Inc. (NASDAQ: GOOG) and raised their price target to $700 from $635 earlier, this represents a premium of over 21% over its yesterday’s closing price of $576.75.
The Firm said “We are raising our Q4 and 2010 estimates on GOOG as keyword pricing has improved more than expected through Q4. Our price target moves to $700 from $635. Our proprietary price tracking and channel checks with several SEMs and industry participants suggest CPCs (or keyword pricing) particularly in categories such as retail witnessed strong growth in Oct from September and Q3 levels.”
However, Shares of GOOG have fallen 0.75% or $4.45 in today’s opening session.
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As a user of Google Adwords,
by Golf Club Carl on 11/20/09 12:21pm
As a user of Google Adwords, it just keeps going from strength to strength with regards to costs even with a credit crunch. I have been buying shares snice the start and i feel very confident in their future.
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