Google shares set to open lower on margin decline, target price cuts

Attendees sits in front of a Google logo during Google I/O Conference at Moscone Center in San Francisco(Reuters) – Google Inc's recent changes to its advertising system to increase revenue from mobile users took a toll on its second-quarter results, prompting at least six brokerages to lower their price targets on the stock. Shares of the internet search giant were set to open 4 percent lower on Friday. BMO Capital Markets, JP Morgan, Deutsche Bank and Raymond James cut their price targets on Google's stock by as much as $ 40 to factor in a drop in margins as the company invests in its non-core businesses. The lowest price target was $ 860, compared to the stock's closing price of $ 910. …


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