The Google share price target has been increased by Barclays Capital despite many of its peers cutting their outlook based on Google’s recent quarterly results.
Google has raised its share price target for Google to $780, up by 4%.
Barclays claimed that Google’s third quarter results that prompted a 10% fall in market value as ‘disappointing but not alarming.
According to bdlive, Anthony DiClemente of Barclays believes that a buying opportunity may have been created:
“We believe dislocation in shares creates a buying opportunity, and we like GOOG into 4Q, as we believe the company can benefit from e-commerce tailwinds and moderation in CPC [cost per click] declines on easier [comparables].”
