Remember the spring? Ahh, the spring, when trees burst out in bloom and so many were predicting GOOG to hit $480 by the end of the year. Well, summer came, and with it, dips down into the doldrums of the $370s, the $360s even (yikes!).
Shareholders in Google Inc. (NASDAQ:GOOG) can breathe in the heady air of the $400 stratosphere again, as yesterday GOOG burst through the $400 line for the first time since mid-July. Now analysts are all saying "buy!" (Jordan Rohan, RBC Capital Markets) and "$500 a share" (Justin Post, Merrill Lynch). At last check, the stock was at $405.61, or thereabouts.
Some, of course, aren't so thrilled. "This is like a $37 stock going to $40," says UBS' Benjamin Schachter, offering up his own price target of $450. I wouldn't complain, Benjamin: if a buyer at $370 sold at $450, wouldn't that buyer still be happy? I know I would, were the buyer me. So what's your price target?
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