Deutsche Bank Has Buy on Google

Deutsche Bank is out with a research report on Google GOOG and it has a Buy rating and a $645 price target after it reported earnings. In a note to clients, Deutsche Bank writes, "We remain buyers of Google shares as strong 3Q results, including accelerating top line growth, reflect continuing momentum in mobile and building traction in display. While there may be relative weakness in W. Europe (vs. prior qtrs), Google beat on the top and bottom line and reported its mobile revenue run-rate had reached $2.5bn. With plenty of irons in the fire and the magic continuing, the story remains in tact. yet multiple expansion is likely a function of resolution on patent litigation and strategy with the Motorola hardware business." Shares of GOOG are up $41.07 in pre-market trading to $600.06, a gain of 7.35%.