Google Bears Growl New Tune
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Google's (GOOG Quote) sharp drop has some bears coming out of hibernation.
Analysts Scott Devitt of Stifel Nicolaus and Scott Kessler of Standard & Poor's, who stunned investors last month when they slapped sell ratings on the beloved search engine company, are getting closer to actually encouraging investors to buy the stock, now that it's down sharply since last week's earnings setback.
Google gave ground again this week, hitting $355 early Friday, down from last Friday's close of $381 and the company's Jan. 31 pre-earnings release level of $432. In light of the selloff, which has knocked 17% off the stock in just eight trading days, both analysts changed their ratings from sell to hold. ...
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