UPDATE: JP Morgan Lowers PT to $670 on Google on International Leverage - Alphabet (NASDAQ:GOOG)

27% profits every 20 days?

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JP Morgan reiterates its Overweight rating on Google (NASDAQ: GOOG) but trims its price target from $730 to $670. JP Morgan notes, "With 50%+ of Google's 2012 gross revenue generated in international markets (albeit somewhat hedged), we are lowering our 2012 revenue and PF EPS estimates by ~2% and ~3%. Importantly, we note that our estimates do not yet include Motorola and only reflect Google on a standalone basis. We are lowering our PT to $670 from $730 based on ~13.5x our 2013E PF EPS of $49.54."GOOG closed at $570.60 on Tuesday.

27% profits every 20 days?

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