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Google seen best placed for growth as it transitions to mobile

18
Jul
2014

(Reuters) – Google Inc is the best placed of any company to benefit from the shift to mobile, increased local advertising and wearables, analysts said after the search giant posted its 18th straight quarter of 20 percent-plus revenue growth. Google shares were up 2 percent at $593.37 in early trading on the Nasdaq. Growth was driven by the companys core search business, YouTube and product-listing ads, which combined to drive three times as much mobile traffic for merchants compared with last year, Jefferies analysts wrote in a note. Brokerage Jefferies maintained its buy rating and $700 price target on the stock.

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