Standard & Poor analyst Scott Kessler, via AllThingsD:
After further consideration of GOOGâ€™s plans announced yesterday to purchase Motorola Mobility, we see greater risk to the company and stock. We expect the transaction to be consummated next year, but later than early 2012, which GOOG indicated. Moreover, despite MMIâ€™s extensive and valuable patent portfolio, we are not sure it will protect Android from IP issues. We also believe the purchase of MMI would negatively impact GOOGâ€™s growth, margins and balance sheet. Based on revised DCF analysis, we are cutting our 12-month target price.