Revenue and Earnings Target on Google Raised, New Initiatives in Sight

Google turned in results after the bell yesterday. While revenue rose, it missed Wall Street expectations. At least two firms have cut their price target on the stock, but kept it at an outperform rating. Analysts at Credit Suisse indicate that Google got dinged last quarter thanks to a one time real estate charge. However, analysts can't ignore that the internet giant has been investing in less developed markets and is set to start reaping the benefits in 2015. It also sees Play and Display businesses to provide the next leg of revenue growth. So, Credit Suisse is raising its full year 2015 net revenue forecast and eps estimates to 27.95 a share, from 27.11.