Google Price Target Raised by Two Firms

Credit Suisse analyst Stephen Ju and Pacific Crest analyst Evan Wilson have raised Google's GOOG price target from $1,200 and $1,135 to $1,450, respectively. Both analysts currently rate the stock Outperform. The analysts describe their individual justification for the rise in price target below. Ju attributed the adjusted price target to continued growth in advertising revenue, driven by product listing ads and high paid-click volume from mobile traffic. Wilson expects strong fourth-quarter revenue and EPS. He noted strong performance in the core search to drive shares in 2014. With Google shares trading up a half percent to around $1,155.40 at last check, the firms' new price targets represent potential upside of about 25 percent.