GOOG Stock – Credit Suisse Boosts Google Price Target to $1,450

by Christopher Freeburn | January 21, 2014 9:39 am

GOOG Stock – Credit Suisse Boosts Google Price Target to $1,450

On Tuesday, Credit Suisse (CS[1]) analysts reaffirmed their positive rating[2] for Google (GOOG[3]) stock.

google neon light 630 300x227 GOOG Stock   Credit Suisse Boosts Google Price Target to $1,450[4]
Source: Flickr[5]

In a research note, Credit Suisse stuck with its rating of “overweight” for GOOG stock. Credit Suisse has boosted its price target for GOOG stock from an earlier $1,200 a share to $1,450 a share. Given the current price of GOOG stock, Credit Suisse is predicting that GOOG stock could climb more than 25%, WKRB13 notes.

GOOG stock is expected to gain as the Internet search giant continues to expand its presence in consumer technology markets. Google recent acquired smart thermostat-maker Nest for a reported $3.2 billion[6], giving it a foothold in the “Internet of Everything” market for networked home appliances.

In the research note, Credit Suisse said they anticipated that Google “sustain mid-teens revenue growth over the next few years.”

GOOG stock hit $1,000 a share in October. By December, GOOG stock was trading above $1,100 a share.

In Tuesday morning trading, GOOG stock rose modestly. GOOG stock is trading north of $1,158 a share.

Endnotes:
  1. CS: http://studio-5.financialcontent.com/investplace/quote?Symbol=CS
  2. reaffirmed their positive rating: http://www.wkrb13.com/markets/252202/google-stock-rating-reaffirmed-by-credit-suisse-goog/
  3. GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG
  4. [Image]: http://investorplace.com/wp-content/uploads/2013/10/google-neon-light-630.jpg
  5. Flickr: http://www.flickr.com/photos/mjmonty/
  6. acquired smart thermostat-maker Nest for a reported $3.2 billion: http://investorplace.com/2014/01/nest-labs-google-android/2/#.Ut6FpHn0CX0

Source URL: http://investorplace.com/2014/01/goog-stock-pac-crest-credit-suisse-boost-google-price-target-1450/
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