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Tuesday, August 25, 2009

Google Upgraded! Rejoice.


"Google (GOOG: Nasdaq) By ThinkEquity ($468.73, Aug. 25, 2009)

WE ARE UPGRADING GOOGLE (ticker: GOOG) to Buy from Source of Funds with a $550 price target, up from $400.


We downgraded Google shares to Source of Funds on Feb. 17, 2009, based on our view that consensus estimates were too high and that low single-digit revenue growth in the second-quarter and third-quarter 2009 would cause significant multiple contraction.


While we believe our fundamental thesis played out as we expected, we clearly got the stock wrong. Given that the second quarter is behind us and that we expect an "in-line" third ..."


BLAH BLAH BLAH


These "analists" have balls. Downgraded when it was heading to a low, upgraded at the top. Its almost criminal if you ask me.


When I constantly read crap (i.e.-pack of blatant lies) like this is a good indicator Google has reached a peak which it did hit my $475 target.


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