SunTrust Robinson Humphrey Reiterates Buy Rating, $1,125 PT on Google Following Announcement of Calico

In a report published Thursday, SunTrust Robinson Humphrey analyst Robert S. Peck reiterated a Buy rating and $1,125.00 price target on

. In the report, SunTrust Robinson Humphrey noted, “Google announced a new, separate company, Calico, that will focus on health and wellbeing, in particular the challenge of aging and associate diseases. The funding amount should be considered ‘very small' relative to Google's core business per Mr. Page's post. Chairman and former CEO of Genentech, Arthur D. Levinson, who is also the Chairman of Apple, will be the CEO and a founding investor.” Google closed on Wednesday at $903.32.