Google (GOOGL) (GOOG) Price Target Raised to $672 at FBR Capital Post Q1

FBR Capital analyst reiterated an Outperform rating and boosted his price target on Google (NASDAQ: GOOGL) (NASDAQ: GOOG) to $672.00 (from $632.00) following results after the close.

Analyst William Bird commented, "Google delivered in-line-ish EPS ($6.57 vs. the Street’s $6.61) and a clean operating profit beat ($98M above the Street) despite a currency-driven $133M revenue shortfall. Given low buyside expectations into the print and bear thesis-busting positive commentary on underlying pricing, the stock is likely to respond positively. We are increasing our PT to $672 (prev. $632) as we rotate forward to 2016 estimates. Google offers attractive exposure to the highest-growth online verticals and good potential for improved mobile ad pricing. Factors that could lift the shares higher include improved mobile monetization, more moderate expense growth, and potential capital returns."

For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.

Shares of Google closed at $547.00 yesterday.

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