|
Google downgraded, stock hits 3 1/2-mo. low
11:24:11 AM ET 2/8/2006
NEW YORK (MarketWatch) -- Google (GOOG) was downgraded to hold from buy at American Technology Research, citing concerns over the impact of higher spending on margins and increasing regulatory uncertainty. Analyst Rob Sanderson also believes capital expenditures may be higher than most are expecting. The stock was last down $7.82, or 2.1%, at $360.10, and has now lost $72.56, or 17% since the end of January. It hit a low of $354.67 in intraday trading, the lowest price seen since Oct. 27. Sanderson kept his stock price target at $475, but lowered his first-quarter earnings estimate to $1.92 a share from $1.95, and his 2006 forecast to $8.96 a share from $9.13.
__________________
|