By REUTERS The investment firm Piper Jaffray raised its price target on shares of the Internet search provider Google yesterday to $600 from $445, a 35 percent increase. The new one-year target is the highest put forth by the 24 brokers with model prices on the stock, according to Reuters Estimates, a division of Reuters that compiles analysts' earnings estimates. A Piper Internet analyst, Safa Rashtchy, projected that Google would continue to generate strong, double-digit sales and earnings growth through 2007 and gain market share as well. Google is the leading Web search provider in the United States, reaping virtually all its revenue from advertising.... The company now offers a variety of free Web services like maps, directions and e-mail. "While the stock may have its ups and downs throughout the year, we believe it will reach $600 by the end of 2006 and we prefer to have one 12-month price target rather than raise it every quarter," Mr. Rashtchy said in a client note. You are subscribed as roessler@xxxxxxxxxxxxxxxxxx To manage your subscription, go to http://v2.listbox.com/member/?listname=ip Archives at: http://www.interesting-people.org/archives/interesting-people/ |