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UPDATE: Barclays Initiates Coverage On Google

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In a note released Thursday, Barclays initiated coverage on Google (NASDAQ: GOOG) at Overweight with a $650 price target.

Looking at the internet sector as a whole, the analysts at Barclays provided the following list of themes which they believe will be the main drivers of growth.

  1. Increased buying power of the digital generation
  2. Identification and personalization - knowing who and where you are, as well as what you like to do
  3. Search and email will remain a large factor
  4. Power of scale - dominance created by the 'network effect'
  5. New conglomerates emerging
  6. Monetization outside the U.S.
  7. Becoming embedded in daily behavior
  8. Privacy and security

Analysts at Barclays wrote, "Google benefits from the majority of our themes, in our view, and with a reasonable valuation on both P/E and FCF, we see it as a core holding for the next few years."

Latest Ratings for GOOG

DateFirmActionFromTo
Jan 2017Pacific CrestReinstatesOverweight
Jul 2016JP MorganMaintainsOverweight
Apr 2016Deutsche BankMaintainsBuy

View More Analyst Ratings for GOOG
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Posted-In: BarclaysAnalyst Color News Price Target Initiation Analyst Ratings

 

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