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Target price on Google is raised by Credit Suisse from $800 to $900 21 November 2007
In a note published on Tuesday, the analyst says: "We are raising our forward estimates for Google in attempt to better account for long term opportunities in areas like display, local, and mobile. We believe that over time as all advertising goes digital, including television, radio, and outdoor, and Google becomes the de facto “operating system” for advertisers, providing them with the dashboard to monitor and optimizer their advertising, tremendous value will be created for Google shareholders." Google is expected to grow its revenue and earnings more than 35% and at least 30%, respectively, over the forthcoming five years. In search, Google is expected to continue to increase its market share until it becomes a monopoly. "We believe that search is a natural monopoly business and expect that over time Google will continue to gain share until they have effectively reached 100%", Heath P. Terry said. Current market capitalization of Google is $202.89 billion P/E ratio: 50.73 Current share price on the NASDAQ: $648.54 |
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