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Global Equities Research Maintains Overweight, $700 PT on Google

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Global Equities Research reiterates its Overweight rating and $700 price target on Google (NASDAQ: GOOG) as it sees company's positives outweigh negatives and long-term fundamentals are strong.

Global Equities Research comments, "Positives: “Panda, Instant Preview and Place” is helping Google gain both Search query market share as well as Search monetization share; “YouTube revenues are probably up 7% to 19% sequentially. Negatives: Google Wallet Vision is right, market is Larger than the advertising-search market, however, implementation is flawed – Some Handset OEM's and Carriers have started to shun Google Wallet. Opinion: Positives outweigh the negatives. Raising FY 2012 non-TAC Revenue Estimate from $37.6 Billion to $38.4 Billion."

GOOG closed at $622.46 per share on Monday.

 

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Posted-In: Global Equity ResearchPre-Market Outlook Markets Analyst Ratings

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