Google Share Target Soars To $600
The sky may be the limit for many, but for Google it looks even higher, as analyst firm Piper Jaffray ups its prediction to $600 per share of GOOG.
How high is high enough for Google investors? Price targets of $400 faded after strong earnings from the search advertising company easily propelled shares of GOOG upward.
UBS called for a $500 target recently, but now Piper Jaffray has even went higher. An article on TheStreet.com noted Piper’s latest target, a whopping $600 per share for Google:
Piper also has Google rated at “outperform,” a tremendous vote of confidence for a stock that currently trades at a P/E ratio of 95. The Wall Street Journal cited comments from a Piper analyst about reasoning for the $600 target:
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David Utter is a staff writer for WebProNews covering technology and business.