Among the sector’s bellwethers, shares of Google crept higher after Bear Stearns analyst Robert Peck raised his target price for the stock to $600, becoming at least the fifth analyst to argue that Google shares are worth that figure. Peck also elevated his fourth-quarter profit estimate to $2.2 billion.
Google has analysts guesstimating the next target stock price of $600 per share — which is absolutely absurd that a stock could reach that high. Google has a lot going for them with their advertising platforms, but honestly, $600 per share worth of advertising?
But beyond the obvious, people wouldn’t be buying it if they didn’t think that the company could and will succeed.
