NEW YORK (Reuters) - Google Inc GOOG.O, whose shares have plunged more than 40 percent since November, could fall almost another 20 percent due to the U.S. economic slowdown and aggressive spending by the Internet search engine company, according to the latest issue of Barron's.
“While a short-term bounce might follow the stock’s swift descent, the shares are likely to head even lower if analysts start slashing their earnings estimates to reflect today’s tougher operating environment, as they should be doing,” the report said.
The article’s headline questioned whether Google shares, which closed on Friday at $433.35, could be headed below $350.
Reporting by Ransdell Pierson, editing by Richard Chang
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