Why isn’t Wall Street warming to the Google-Motorola marriage?
Two days after announcing its plan to pay a hefty $12.5 billion for Motorola Mobility, Google’s stock isn’t just down more than 4 percent from its pre-deal price, but it’s also been downgraded to a “sell” by Standard & Poor’s equity analysts.
In a note Tuesday, S&P said it was cutting its price target to $500 to $700 and dropping its rating to a “sell” from a “buy.”
“This proposed deal has injected a tremendous amount of uncertainty into Google and the stock,” S&P analyst Scott Kessler told Adweek.
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