Deutsche Bank Maintains Buy On Google Shares, $615 PT
In a research report issued today, Deutsche Bank analyst Ross Sandler maintained a Buy rating on Google (GOOG) with a price target of $615.00.
Sandler noted, “Google reported net revenue and EPS that were (-0.3%) and (-2.7%) below Consensus, and largely in line with DB. The key metric that best describes the trajectory of Google’s overall business is O&O websites revenue, which was up 19.8% Y/Y (-0.9% below Consensus) and accelerated on a 2-year basis. We had previewed that we expected 3Q to be largely in-line, and that’s what Google delivered, with some noise in operating expenses and tax rate. At 18x 2015 EPS, with near 20% top line growth, we continue to view GOOG as a high-quality, low multiple must own Internet name, and a great place for investors to be positioned amidst the current market dislocation.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ross Sandler has a total average return of 9.3% and a 49.4% success rate. Sandler is ranked #300 out of 3336 analysts.