Google Inc (GOOG) Price Target Raised By Jefferies Ahead Of Earnings


Google Inc (NASDAQ:GOOG) releases its fourth quarter earnings report tomorrow, and Jefferies analysts are pretty bullish on the company. Their estimates are actually ahead of Wall Street’s, and they have increased their price target to $1,300 from $1,150 per share ahead of tomorrow’s report. They maintained their Buy rating on the stock.

Estimating Google’s results

Analyst Brian Pitz and his team said trends for the holiday quarter look good for Google Inc (NASDAQ:GOOG). They particularly are expecting strength in revenues for Google Sites and Licensing and Other lines. They’re expecting an increase of 28% in paid clicks, which they believe will be driven by mobile and Product Listing Ad clicks. However, they expect to see a decline of about 10% year over year in cost per click.

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