SunTrust: Google's Optionality Expands With New Biotech Company
In a report published Thursday, SunTrust Analyst Robert Peck analyzed the news of Google's (NASDAQ: GOOG) new company, Calico.
Calico will be a separate biotech company focusing on health and well-being. Peck noted that device technology and software analytics “may lead to sizable improvements in patient and drug level monitoring and data analysis.” Google is hiring scientists and chemical engineers, specifically in the field of nanotechnology. SunTrust commented, “We think it's likely that Google is looking at creating technology that would allow nano sized devices to self create themselves and live within an animal or human.”
With projects such as “Glass, self-driving cars, Makani Power, and Project Loon,” Peck noted the incredible optionality Google offers. Applications of Calico could include “identifying one's self, paying for items, communicating with external devices, medical alerts, gaming, and even manufacturing.”
SunTrust maintains their Buy rating. Google closed at $903.32 on Wednesday.
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