Analysts: Google’s Waze Purchase is Positive and 3 More Research Notes to Check Out

Google (NASDAQ:GOOG): Needham has raised its price target from $900 to $1,000 on Google shares, as the firm believes Google’s acquisition of Waze will further strengthen its position as the dominant mapping service provider and counter Facebook’s (NASDAQ:FB) and Apple’s (NASDAQ:AAPL) efforts. The firm believes the transaction value was over $1 billion, and reflects the strategic importance of the company as well as its technology and data strength. It keeps a Buy rating on the shares.

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Atmel (NASDAQ:ATML): Pacific Crest is slightly more cautions on Atmel in the near-term, given that its supply chain checks have indicated bottlenecks that could limit uptake of touch penetration in PC notebooks to 11 percent to 12 percent in 2013, compared to the prior expectations of 20 percent. However, the firm continues to see a significant revenue ramp in the long term and maintains its Outperform rating on the shares.

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Yum! Brands (NYSE:YUM): Following the expected 19 percent decline in same-store sales in China, Goldman Sachs says that visibility remains limited as far as recovery timing. It keeps a Neutral rating, given risk to Q4 estimates and valuation.

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Lululemon Athletica (NASDAQ:LULU): Canaccord, after meeting with Lululemon’s outgoing CEO and members of the board, says that the fundamentals of the company remain sound, and it does not believe that the CEO stepped down because of the company’s quality control issues. The firm believes that the shares will rebound from the recent pullback, and reiterates a Buy rating.

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