Deutsche Analyst Cuts Google's Price Target To $615

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An analyst at Deutsche Bank on Friday lowered Google Inc.'s price target after the Internet giant's quarterly earnings fell short of estimates. Google late Thursday reported adjusted earnings of $6.35 a share versus analysts' forecast of $6.54 a share. Analyst Ross Sandler reduced Google's target to $615 from $645 but maintained the stock's buy rating. Sandler noted that quarterly results were generally in line with his expectations and that Google is a high-quality must-own Internet stock. Google shares are off 1% to $519.44.

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