Citigroup reiterated its neutral rating and $575 price target for Google (NASDAQ:GOOG) ahead of its Q3 earnings report on Thursday, October 13. The bank is looking for $7.37 billion in net revenue, up 32% year-over-year, and $8.98 in non-GAAP EPS. Consensus estimates for Q3 are $7.19 billion and $8.74 per share.
Citigroup said that based on extensive intra-quarter channel checks and their model sensitivity work, they believe consensus Q3 revenue and EPS estimates seem reasonable.
Google has a potential upside of 32.9% based on a current price of $544.05 and an average consensus analyst price target of $723.2.
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