Google Inc. (NASDAQ: GOOG): Needham & Co. resumed coverage on Google with a Buy rating and a price target of $725. In a research note to clients, the firm stated, "We believe Google is a compelling investment given its multiple billion dollar growth opportunities: Search remains the engine of growth and our 2H11 Search revenue estimates could prove conservative as advertisers shift more of their budgets online and wait to flush their budgets...We conservatively estimate that Google’s Display Advertising is on a $3 billion run rate...As the leading smartphone OS, Android’s market share is nearly 40% and could generate revenue of $4 billion in 2011...Local and Social represent emerging billion revenue opportunities...We are establishing FY12 estimates. We estimate pro forma EPS of $43.25 on revenue of net revenue of $34.9 billion."
Transocean Ltd. (NYSE: RIG): Jefferies upgraded its rating on the company to Buy from Hold. The firm lifted its price target on the stock to $80 from $79. In a research note to clients, the firm said, "With the jack-up and UDW rig segments on the verge of achieving real pricing power for the first time in several years, we are taking a more positive stance on the offshore drillers."
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX): Bank of America on Friday initiated coverage on the company with a Buy rating and a price target of $75.
Finisar Corp. (NASDAQ: FNSR): Jefferies initiated coverage on the company with a Buy rating and a price target of $23.
Skilled Healthcare Group, Inc. (NYSE: SKH): JMP Securities downgraded the company to Market Perform Market Outperform.
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