Google: 50 cents from $600
Google Inc. (NASDAQ:GOOG) shares came within 52 cents from touching $600 per share this morning, and the Street thinks the stock could hit $700 by the end of the year.
(Benzinga.com) Google, Inc. (GOOG) reported a stronger than expected 3Q results last night, comfortably exceeding on the top and bottom lines, and reflecting strong momentum going into the seasonally strong 4Q, Jefferies & Company reports.
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The company says that with core Search sustaining high-teens growth rates and Display becoming a multi-billion dollar revenue stream for Google, the momentum of the business going into the seasonally strong 4Q is accelerating.
“We're raising our estimates and price target to $700 from $680, while maintaining a Buy rating,” Jefferies & Company writes.