Google Faces More Competition In Search Advertising - Forbes.com

"Standard & Poor's Equity Research downgraded Google (nasdaq: GOOG - news - people ) to 'hold' from 'buy,' saying considerable positives are already reflected in the shares. Google stock has appreciated significantly since its August 2004 IPO at $85 per share. For the year, the stock is up some 49%, S&P Equity Research noted. 'We expect Google to face increasing competition in search advertising as it pursues opportunities beyond its core franchises,' the research firm said. Still, based on relative analysis, S&P Equity Research raised the target price on Google to $317 to $300. 'Despite the appeal of Google's prospects, we believe risk-reward considerations warrant a 'hold' recommendation,' the research firm said. "