Ron Burgundy Posted January 31, 2014 Share Posted January 31, 2014 (Reuters) - Google Inc looks set to extend its leadership in online advertising as it sharpens its focus on its core business, analysts said after strong ad sales helped the No. 1 search company report stronger-than-expected quarterly revenue. Google's shares, which closed at $1,135 ahead of the results announcement on Thursday, opened about 3 percent higher after at least 12 brokerages raised their price targets on the stock to as much as $1,400. Broker Canaccord Genuity raised its target price by $370 to $1,370, noting that Google's website revenue growth accelerated to 22.1 percent in the fourth quarter, the third consecutive quarter of faster growth. Canaccord and others also said the sale of Google's loss-making Motorola handset unit to China's Lenovo Group Ltd would help it focus on its core internet business and boost margins. View the full article Quote Link to comment Share on other sites More sharing options...
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