Monday, January 09, 2006

It's the Company, Stupid: GOOG

There is no question that Google's (GOOG) current growth is impressive.

Not only are Google's earnings violently accelerating, but they're doing so in an utterly nascent market.

When Google reports earnings in 3 weeks, we're expecting blowout numbers.

Billions of shoppers in search of "the perfect gift" this past holiday season most likely utilized Google's engine -- if we're right, that should hit Google's bottom line like a ton of bricks.

If Google earns $10 next year, and we use a reasonable 70 P/E multiple, we have a $700 stock.

For the time being, we're raising our Google price target from $500 to $600.

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