On Air Now

Current Show

Coast to Coast AM   12:00 AM - 6:00 AM

Call Coast to Coast now at 1-800-825-5033

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
72° Feels Like: 72°
Wind: E 0 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Partly Cloudy 67°

Tomorrow

Partly Cloudy 86°

Sun Night

Partly Cloudy 64°

Alerts

Euro woes may affect Google ad sales: analyst

(Reuters) - Benchmark Co analysts downgraded Google Inc to "hold" from "buy," citing a decline in advertising revenue from Europe and an uncertain outlook for the first half of this year.

"Our checks indicate the year is starting slowly with advertisers taking a wait-and-see approach," analyst Clayton Moran wrote in a note to clients.

Google has more than 90 percent share of the online advertising market in Europe, which accounts for about 35 percent to 40 percent of its revenue, Moran said.

Moran is a three-star rated analyst for the accuracy of his earnings estimates on Google, and ranks 16th out of 41 analysts covering the stock, according to Thomson Reuters' Starmine data.

The brokerage has a $700 price target on the stock, which has risen 40 percent since October when the company reported better-than-expected profits driven by its mobile business.

The shares were trading down less than a percent before the bell on Thursday morning. They closed at $668.28 on Wednesday on the Nasdaq.

(Reporting by Meenakshi Iyer in Bangalore; Editing by Saumyadeb Chakrabarty)

Comments