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Google takes a downgrade.

And the share price takes a minor hit.

     
10:01 am on Feb 26, 2005 (gmt 0)

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GlobeTechnology [globetechnology.com]

...pricing environment for on-line advertising, or paid-search pricing, has weakened in the current quarter, RBC Dominion Securities Inc. analyst Jordan Rohan and his team said in a research note to clients.

The analyst knocked his Google rating to "sector perform" from "top pick" and slashed his 12-month price target to $200 (U.S.) from $250.

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Shares of Google fell $5.06 to $188.89 on the Nasdaq Stock Market yesterday after earlier dropping as low as $182.23.

No time for panic, but RBC is huge, and influential.

And "Sector Perform" - for Google? That's a big change in tune. Wonder if they know something us plebes don't.