Blast from the Past: Credit Suisse Analyst Raises Price Target on Google to $900

From November 20, 2007:

Credit Suisse Internet analyst Heath Terry this morning raised his price target for Google (GOOG) to $900, from $800, in what he describes as an “attempt to better account for long-term opportunities in areas like display, local and mobile.”

Terry contends that “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 optimize their advertising, tremendous value will be created for Google shareholders.”

He sees the advertising opportunity driving top line growth of 35% or more, and profit growth of at least 30%, over the next five years.

Terry upped his 2008 EPS estimate to $18.93 from $18.75.

He also says that the company eventually will get “effectively” 100% of the Internet search market. He expects ongoing share gains to provide 38% growth in its search business over the next five years.

Google today is up $25.60, or 4%, to $651.45.

Posted by on February 9th, 2012 at 12:02 pm


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