Google Continues its Run
Google Inc (NASDAQ:GOOG) continues to fire on all cylinders. This week Google shares hit an all-time high.
Google Inc (GOOG) is closed Friday at $775.60 a share. Google is off to a wonderful year, its stock is up 10% year-to-date. Friday (Feb 1st) Google shares climbed to $776.60. Google has changed the planet since its 2004 IPO and its shares have increased over 600% since that time.
It was just 10 days ago that Google beat the street with its Q4 earnings. That day it hit a new 52-week high of $774.92 but that wasn't good enough as Google is now above the $775 price level. Even at its current share price Google trades at 13.7x 2013E EPS (excluding cash). The most recent analyst action has Google continuing its run in 2013 and 12 months from how expect between $850 and $900 a share.
|23-Jan-13||Reiterated||Cantor Fitzgerald||Buy||$820 → $900|
|23-Jan-13||Reiterated||Barclays||Overweight||$800 → $850|