There’s good news for Google’s CFO (and the company’s shareholders) this morning: two different financial firms have declared now a great time to purchase Google’s stock. MKM Partners declared Google a "buy" this morning, while Citi added Google to its "Top Picks" list.
MKM analyst Tim Boyd explained according to a Benzinga article "that the risks facing Google Inc, such as the loss of the China market, had been fully priced into the company’s stock price." Also, "The analyst said that the approval of the AdMob acquisition was an unexpected positive."
As for why Citi made its move, Citi analyst Mark Mahaney argued according to Eric Savitz that "the stock has been held back by a series of concerns which he thinks are overblown."
And although that might not sound like the best thing in the world, the situation’s driven down the price (see the graph below) to a point at which Mahaney thinks Google represents a "compelling risk-reward opportunity."
So now Google’s stock is heading up in a big way (by more than 2.50 percent so far), even though the Dow and Nasdaq are down and just a tiny bit up, respectively.