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Google May Advance 44% to $900, Credit Suisse Says

2007.11.24

Google Inc. may climb to $900 in the next year, according to Credit Suisse Group, which said the world's most popular Internet search engine will expand its share of the market for mobile device and Web display advertising.

Credit Suisse's share-price forecast for Google is the highest among the 37 brokerages that rate the stock, according to Bloomberg data.

The new estimate would be a 44 percent gain from yesterday's $625.85 closing price for the Mountain View, California-based company's stock. Analyst Heath Terry increased his forecast by 13 percent from $800.

``Tremendous value will be created for Google shareholders,'' Terry wrote, ``as all advertising goes digital, including television, radio, and outdoor, and Google becomes the de facto `operating system' for advertisers.''

Terry maintained the ``outperform'' rating he has held on the shares since starting coverage in September 2004.

``Search is a natural monopoly business,'' Terry wrote. ``Over time, Google will continue to gain share until they have effectively reached 100 percent.''

Google shares advanced $22.69, or 3.6 percent, to $648.54. The stock has risen 31 percent over the past year, compared with a 2.8 percent gain for the Standard & Poor's 500 Index.

 

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