MKM Partners analyst Tim Boyd calls the FTC approval of the Google-AdMob deal an “unexpected positive” and upgrades Google shares to Buy from Neutral. He keeps a $600 price target.
In a research note this afternoon, Boyd says that the FTC decision “removes a major sentiment overhang on the stock,” with investors previously concerned that Google’s (GOOG) entry into non-search businesses would be stymied by regulators.
Meanwhile, S&P Equity Research’s Scott Kessler writes that “FTC approval is a major win for Google and should enable it to quickly become the company to beat in mobile advertising.” Kessler reiterates a Strong Buy on the stock.
After a post-approval bump earlier this afternoon, Google shares have given back the gains and are now down $4.07 or, 0.9%, to $470.94.
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