Google (GOOG) Maintains Buy Rating

Youssef H. Squali, Naved Khan and Sandeep Swadia, analysts at Jefferies, have continued its Buy rating for Google (NASDAQ: GOOG). The target price remains $660.00, whereas the stock has been trading around $475.00.

Research indicates that growth in the e-commerce market remains strong. Also, advertising budgets for search advertising have been increasing. Both of these factors are positive for the core business of Google.

Google increased its share of search market volume at a rate of 9.2% y-o-y in 2Q, faster than the 6.7% growth in search market use as a whole. CPC (Cost Per Click) in international business has been under stress due to foreign exchange volatility.