Citigroup Lowered Its PT For Google To $630, Lowered EPS Estimates (GOOG)

source:mysmartrend.com
Jun 14, 2010 (SmarTrend News Watch via COMTEX) -- 6/14/2010- Citigroup analysts are lowering their price target for Google Inc. (GOOG) to $630, down from $640, which implies about 30% upside.

Analyst Mark S. Mahaney said, "We have lowered our 2010 Net Revenue ests by 2% to $20.5B & our 2010 Non-GAAP EPS by 3% to $27.41 due to a material change in our FX assumptions (sig. Euro weakness), and to a lesser extent, to reduced Nexus One unit sales ests. We have made similar reductions to Q2 and 2011 ests."

The bank now sees fiscal 2010 EPS of $27.41, down from $28.21 per share, vs. consensus estimates of $27.74 per share, and fiscal 2011 EPS of $31.30, down from $32.45 per share, vs. consensus estimates of $31.92 per share.