Analysts say the time may be right to buy Google shares, haha

Discussion in 'Trading' started by S2007S, Mar 6, 2007.

  1. S2007S


    Is this a joke?

    Analysts say the time may be right to buy Google shares
    Monday March 5, 2:22 pm ET
    By Ben Charny

    SAN FRANCISCO (MarketWatch) -- After sliding more than 7% in value last week, shares of Internet search engine giant Google Inc. may be ripe for the picking, say two investment analysts.

    Google (NasdaqGS:GOOG - News) shares were trading as low as $437 on Monday. That's down some 15% from its record-setting close of $513 last November.

    Over the long term, Google shares have slid on concerns about its growing expenses, especially in how much it pays to attract new traffic to its collection of Web sites. Investors are also worried about delays associated with some of Google's non-search initiatives.

    But still, Google's fundamental business of selling advertisements alongside its dominant search engine, and on affiliated Web sites remains very strong, Cowen & Co. analyst Jim Friedland wrote to clients Monday.

    The fact that Google's share price is down significantly since November means it's a bargain, not an albatross, according to Friedland and Piper Jaffray analyst Safa Rashtchy.

    "We believe underlying fundamentals remains strong and that investors should use weakness as a buying opportunity," Cowen & Co. analyst Jim Friedland said in a note to clients Monday. He rates Google as outperform.

    Ditto for Rashtchy, who rates Google as outperform. In a note to clients Monday, he said the "recent sell-off represents an attractive entry for investors looking to build positions."
  2. It's into gap support + 200MA is 432. That's enough for technical players.