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Google Inc. Message Board

  • germantrader71 germantrader71 Jan 18, 2006 5:16 AM Flag

    GOOG to SELL by Stifel Nicolaus

    eRational Exuberance - Where There Is Smoke, There Is Fire;
    Lowering to Sell
    Scott W. Devitt (703) 392-4844 swdevitt@stifel.com
    Marla A. Block (703) 392-4033 mablock@stifel.com
    � We believe Google is an outstanding company; however, we believe its
    shares are overvalued. We are lowering our rating on Google shares to
    Sell from Hold based on four factors � (1) we have historically noted
    Google's excessive valuation but maintained a Hold due to continued
    momentum and positive sentiment, (2) sell side expectations and ratings
    have risen throughout 2005 to the point that we now believe will limit
    upside potential, (3) Yahoo!'s results last evening broke the sector
    momentum and sentiment which should now force investors to focus
    more on what these businesses are worth rather than where the stocks
    may be going, and (4) unsustainable PPC pricing.

 
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