07:55 GOOG Google: Current valuation implies a very attractive risk reward outlook- Citigroup (461.47 ) -Update-
Citigroup says post a 10% decline in GOOG shares following very solid, but not spectacular, Q4 results, they are reiterating their Buy $600 tgt and #1 long idea on GOOG. The firm views current valuation as implying a relatively very attractive risk-reward outlook. They believe recent industry datapoints, including this week's release of the SEMPO survey, continue to indicate a very robust profile for search advertising. Firm says tracking suggests that GOOG continues to gain market share. The firm says their proprietary R.O.I.C analysis highlights materially very high value creation by Google and they believe that the potential loss of the Ask affiliate deal is a manageable risk.
Max pain for goog is 470 and if you subscribe to the max pain theory goog will close or gravitate toward that number by expiration. We saw that two days ago with a minor sell yesterday. Watch and see today.
Several postiive news items today. Nice to see as all the negative press that the bears have been publishing and harping upon has gotten rather tiring. Time for goog to regroup and stand up for itself.