Jefferies & Company Raises Google Price Target To $700

Google, Inc.

reported a stronger than expected 3Q results last night, comfortably exceeding on the top and bottom lines, and reflecting strong momentum going into the seasonally strong 4Q, Jefferies & Company reports. The company says that with core Search sustaining high-teens growth rates and Display becoming a multi-billion dollar revenue stream for Google, the momentum of the business going into the seasonally strong 4Q is accelerating. “We're raising our estimates and price target to $700 from $680, while maintaining a Buy rating,” Jefferies & Company writes. Google currently trades for $ 540.93.