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SMF Notes GOOG Google target lowered to $615 at The Benchmark Company (581.50 )
The Benchmark Company lowers their GOOG tgt to $615 from $650. The firm reduced estimates based on their 2Q channel checks. They believe Google is likely to miss the consensus estimate for net revenue due to the following: European online advertising has weakened further, the decline in the Euro currency, and, fairly soft domestic search volume; specifically in retail. The firm's net revenue and EPS estimates are now $8.26 billion and $9.94.
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