Google Scores Significant Upgrade (GOOG)
Google Inc. (NASDAQ: GOOG) has scored a significant upgrade in both name and in quality. The king of search has been raised to Goldman Sachs’ Conviction Buy List. The target was raised to $560 from $510, which is reflective of roughly 25% upside. While the firm noted an increase display market share, also noted was more search spending and a boost from Europe and even from travel bookings. Be advised that Goldman Sachs previously had a “Buy” rating on the firm, but this is the upgrade to is conviction list. Shares are indicated up about 1% but there is very thin activity because of there being more than two hours until the market opens.
JON C. OGG