Google’s ‘Sell’ Rating Barely Lasts a Week
S&P upgrades net giant's stock 'on valuation'
Not even a week after dropping Google stock from a “buy” to a “sell,” Standard & Poor equity analysts have upgraded Google to a “hold.”
In a research note Monday, S&P analyst Scott Kessler said his firm was upgrading shares of Google “on valuation.”
“Since a recent intra-day high established less than four weeks ago, [Google] has fallen some 22%, below our 12-month target price of $500, and we now see it as fairly valued,” he wrote.
In an interview with Reuters, Kessler said, "It's very hard for us to say sell this stock when it's trading below its target price.”
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