Google price targets continue to be ratcheted up after last night’s beat and raise financial results. Among others, I see this morning that RBC’s Jordan Rohan has raised his GOOG target to $725, and he rightly points out that the stock, even after its current run, trades at 24x 2009 EPS, a discount to the company’s growth rate (which GOOG bears won’t care about, because they don’t buy the 2009 EPS figures, of course).
Mark Mahaney at Citi has a note out upping the Google price target ante. He calls the company’s continuing high growth rate “extremely impressive”, and ups his target to $775 (!) based on rolling forward to 2009 EPS multiples.
Speaking of GOOG bears, it’s fun to read Jeff Matthews’ missive on how Barron’s (a representative media Google bear) has consistently missed the boat.
[Update] Eric has more on the ever-increasing targets here.