Topeka Capital Slightly Raised Google Price Target To $660 Following Strong 2Q14 Results
In a research report released today, Topeka Capital analyst Victor Anthony maintained a Buy rating on Google (GOOG) and raised his price target to $660 (from $557), in light of GOOG’s recent 2Q14 earnings report.
“Google reported a solid 2Q, with revenues that outperformed across all three business lines led by international markets. EPS missed our estimate and consensus but the miss was due to lower interest and other income (a low quality miss). Details on drivers of Google.com Websites revenue point to a stronger set of fundamentals for the core Websites business versus Networks. Key concern for us this quarter was the low double-digit growth in domestic revenues, which we will continue to monitor”, Anthony noted.
According to TipRanks.com, which measures analysts and bloggers success rate based on how their calls perform, analyst Victor Anthony has a 16.8% average return and a 65% success rate. Anthony has an 11.4% average return when recommending GOOG, and is ranked #96 out of 3216 analysts.