Wall Street is optimistic ahead of Google 's quarterly earnings announcement Tuesday as the tech giant's advertising revenue growth shows signs of recovery.
Analyst Ronald Josey estimates search revenue growth gained 11.3% year-over-year, versus the consensus projection of 9.6%.
Bank of America sees search growth accelerating Bank of America also maintained its buy rating and $146 price target.
We expect disruption with the format change, which will likely drive headwinds to medium-term search growth.
Competitors are likely to bid aggressively for Google's search distribution partnerships, driving profitability lower.
Persons:
Doug Anmuth, he's, Ronald Josey, Max, Jefferies, Brent Thill, Michael Bloom
Organizations:
Google, YouTube, Deutsche, JPMorgan, Citi, 3Q, Bank of America, of America, 2H, 12.1x
Locations:
Monday's, Wells