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

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

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

google neon light 630[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.

  1. CS:
  2. reaffirmed their positive rating:
  3. GOOG:
  4. [Image]:
  5. Flickr:
  6. acquired smart thermostat-maker Nest for a reported $3.2 billion:

Source URL:
Short URL: