Google (NASDAQ:GOOG): Morgan Stanley said Google CPM declines are a result of difficult comps and that its website growth is a proxy for organic revenue growth, which has been stable. It believes that Google can grow its core search business in the teens with high margins over the next several years, and recommends buying Google on weakness. The firm reiterates its Overweight rating and $996 price target.
Microsoft (NASDAQ:MSFT): Following the company’s weaker-than-expected fourth-quarter results, Stifel predicts that the company’s enterprise software businesses will remain strong, while it will benefit from a rebound in the PC market in 2014. The firm keeps a Buy rating on the stock.
Priceline.com (NASDAQ:PCLN): Macquarie points out that Priceline.com remains a top pick in the group, given industry-leading execution and scale in international hotels, strong tailwinds in e-travel, and valuation. The firm rates the shares at Outperform with a new $1,000 price target, up from $915.
J.C. Penney (NYSE:JCP): Oppenheimer believes that data suggest J.C. Penney continues to face near-term challenges, and thinks that Wall Street estimates for the company’s second-quarter results are still too optimistic. It keeps a Perform rating on the stock.