Brokerages Support Google In Wake Of Financial Report


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Although shareholders didn't respond too well to Google's first quarter earnings report - Google's stock dipped afterward, and is now down 5.80 percent - analysts generally liked what they saw.  A roundup determined that four brokerages raised their price targets, while just two cut them.

GoogleAlphabetically, Bank of America Merrill Lynch comes first among Google's supporters, and according to Reuters, it expects the company to hit $685 instead of $670.  Next up is Jefferies & Co., which increased its price target from $695 to $710.

The third member of this supportive group is MKM Partners, which has confidence that Google will soon reach $600 rather than $570, and finally there's Susquehanna Financial Group, with a price target of $755 replacing its old one of $735.

The two dissenting opinions belong to Barclays Capital and Kaufman Bros.  These outnumbered organizations trimmed their targets from $675 to $650 and from $740 to $725, respectively.

Google can at least be pleased that those last two estimates remain higher than some of the "up" forecasts, then.  The company just needs to get past the big dip that followed its earnings report yesterday afternoon.