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Google still top pick for Wall Street, despite mobile ad challenges

17
Apr
2014

Google Incs disappointing first-quarter results left Wall Street unfazed about the internet giants ability to come to grips with a shift to the fast-growing mobile advertising market. Google shares were down 2 percent in premarket trading on Thursday and at least 12 brokerages cut their target price on the stock. Despite an expectations-miss quarter, Google remains one of the best-positioned stocks for many of the secular growth drivers in the Internet space, RBC Capital analyst Mark Mahaney, who kept his outperform rating on the stock, said in a note to clients. Of the 46 analysts covering Google, 35 have a buy or equivalent rating on the stock.

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