Google (GOOG): Analyst Chatter This AM

From Notable Calls

Seeing lots of positive/defensive commentary on Google (NASDAQ: GOOG) this morning:

Barclays says sell-off overdone. Still thinks GOOG consensus # are too high for 4Q08 (+5.2% Q/Q net revs) & 2009 ($22.25 PF EPS), but stock clearly anticipating much lower numbers. And there are some early signs from SEMs that conversion rates & search spending have picked up a bit over the last couple weeks.

Piper Jaffray reits Buy and $600 tgt saying October, total query volume on Google grew 7.4% m/m, which has been the strongest sequential showing since March

MLCO reits Buy and $468 tgt.

Google to cut contract workers - WSJ (this was rumored yesterday..probably main reason why it underperformed the mkt..also people were anticipating worse comScore data..which ended up being not that bad) - FYI Only

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