New Brokerage Targets on Google… How Long ‘Til $1,000 Target Issued? (GOOG)

By Douglas A. McIntyre Updated Apr 6, 6:21PM EDT · Published Oct 19, 1:48PM EDT

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There are enough research reports and notes out today on Google (NASDAQ:GOOG) that the ‘consensus’ numbers ahead and the consensus targets aren’t going to be of any use for a while. We compiled a list of new and recent target upgrades from the street, and the new high target from bulge bracket firms is now $800.00. Here is a list of the seen new price targets today:

Credit Suisse $800
Goldman Sachs $800
B of A $785
Citi $775
Cantor Fitzgerald $750
Jefferies $725
RBC $725
BMO Capital $690

Before today:

Jim Cramer $750 (hint at $900)
Merrill Lynch $740
Oppenheimer $700
Lehman $714
Needham $690

We already showed what a $600 target would look like when shares were well under that and then we showed what a $700 Google would look like. Regardless of a current $200 Billion market cap, it seems like if the company can keep its stellar earnings growth intact that the headline will come across the tape "So and So raises Google’s price target to $1,000"…. Obviously there are a lot of bench stops between $650 and $1,000, or even between here and $800 targets.

Shares of Google are up 1.5% around $649.00 today, which is a new all-time not counting today’s intraday highs. Obviously the bullish sentiment out there in the market hasn’t dwindled into outright bearishness, otherwise you would have seen "relative value downgrades" out of brokerage firms today. Imagine how well the stock would be doing today if it wasn’t options expiration and if it the DJIA wasn’t down so much today.

Jon C. Ogg
October 19, 2007

Jon Ogg produces the subscriber-based Special Situation Investing Newsletter; he does not own securities in the companies he covers. Trial members signing up this weekend will still be entitled to view the first part of our "Small Cap Internet Watch List" of likely takeover targets in the sector.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.