Why Google Stock Will Still Go to $1,000

Stephen Ju of Credit Suisse maintained his Outperform rating, and he did not waver at all on his $1,000 price target for Google stock. Ju maintained that traffic cleanup exerted a drag, but that the catalysts and thesis remain intact. He did trim some of his growth forecasts after $13.1 billion in sales came in under his $13.3 billion sales target.

Ju said:

We Reiterate our Outperform rating as we note that our long-term investment thesis as well as the near-to-medium term catalysts have not changed on the back of this report. We believe the ongoing adoption of PLA as well as the rollout of Enhanced Campaigns in the second half of 2013 are potential accelerants to ad budget deployment.

The consensus price target is $991 for Google, and even the median target is $1,000, according to Thomson Reuters. We would also point out that the highest share price target was $1,175. Today’s research report remains bullish but Credit Suisse’s $1,000 target price is not even as aggressive as other firms out there.