S&P analyst Scott Kessler on Google (ticker: GOOG):
GOOG chart below.
06/01/05 12:14 pm EDT... S&P DOWNGRADES SHARES OF GOOGLE INC. TO HOLD FROM BUY (GOOG 287.42***): GOOG shares have appreciated substantially since the company completed its Aug. '04 IPO at $85 per share. Year-to-date, the stock is up some 49%. We think considerable positives are already reflected in the shares, and we expect GOOG to face increasing competition in search advertising as it pursues opportunities beyond its core franchises. Nonetheless, based on revised relative analysis, we are raising our 12-month target price to $317 from $300. Despite the appeal of GOOG's prospects, we believe risk-reward considerations warrant a hold recommendation.