Analysts Play Catch Up to Google's New All-Time High
Shares of Google (NASDAQ: GOOG) hit a new all-time high on Wednesday of $808.97. In light of this tremendous run, which saw shares rally nearly 20% in the last three months, several analysts raised their price targets on tech giant Thursday morning.
- Deutsche Bank raised its price target from $850 to $935 and maintained its Buy rating.
- Sanford Bernstein raised its price target from $820 to $1000 and maintained its Outperform rating.
- CLSA raised its price target from $900 to $1000 and maintained its Buy rating.
Now with two $1000 price targets, the comparisons to Apple (NASDAQ: AAPL) seem inevitable. When shares of Apple were setting new highs last September, a few analysts gave the stock quadruple digit targets, including Topkea Research's infamous $1111 price target. Of course, Apple was never able to live up to expectations.
Shares of Google traded near $800 early Thursday.
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