Google Share target has been estimated at $600. Piper Jaffray has jacked up Google Stock price target from $445 to $600.


Google Share target has been estimated at $600. Piper Jaffray has jacked up Google Stock price target from $445 to $600.

Piper Jaffray has said that the search engine is its top large-cap pick in the new year.

Piper Jaffray analysis has reported, “Although such a high multiple may seem aggressive, we believe that given Google’s dominant position in an already large yet still rapidly growing market, its phenomenal brand power, and its status as a technology leader justifies such a valuation”. [source]

The $600 forecast is 50 times Piper’s new pro forma 2007 earnings estimate of $11.91 a share. This was based on 2006 estimates. Now with the new estimates 2007 targets are also expected to rise.

Earlier JMP Securities had raised Google’s 12-month price target on the stock from $400 to $575. Analyst William Morrison made the highest forecast of Google’s share price exceeding the bullish price targets of $500.

Now the Piper Jaffray Analysis has fixed Google Share target at $600.

To know the present value of Google Shares click here.

 

 

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