For the first time in history- a firm lowers Google's price target:

For the first time in history- a firm lowers Google's price target:

Jmp Stop the presses!

JMP Securities downgraded Google to "market perform" from "strong buy," saying that revenue growth for the first quarter and the full year will be "substantially below" its prior forecast because of lower-than-expected growth in search queries.

I guess someone finally listened to Google's CFO when he said last month that "Growth is slowing. Listen to me carefully: growth is slowing. For the love of God, lower your freakin' earnings estimates because GROWTH IS SLOWING." Up until now, every single analyst on Wall Street had been pretending the CFO never said it- I guess they were too distracted with the S&P 500 addition to pay attention to little details like that.

Anyway, JMP Securities lowered their price target from $550 a share to $475, for a reduction of 13 percent.

While this may not seem so shocking at first, you must consider that they are the first firm I can remember who has finally worked up the courage to remove their lips from Google's cock. Sure, JMP will never, EVER, get any investment banking business from Google in the future, but that's a small price to pay for integrity.

BTW- I see this morning Piper Jaffray had some clown on CNBC's "Squawk Box" upping his price target on GOOG to 600 bucks a share and saying everything is coming up roses and profits are going to the moon.

I guess we'll find out in a week who's full of shit!