CNN/Money One for credit card only hard offer form at $9.95 One for risk-free form at $14.95 w/ $9.95 upsell  

Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

News > Technology
graphic
Prudential: Google target $200
Brokerage cites 'blowout quarter', raises earnings targets for 2004 and 2005; stock rallies further.
October 22, 2004: 10:16 AM EDT

NEW YORK (CNN/Money) - Google stock rallied anew Friday morning after Prudential Securities raised its target for the stock to $200 from $130, citing a "blowout third quarter."

Prudential noted that net revenue had more than doubled in the latest quarter.

The firm also raised its fiscal 2004 earnings estimate to $2.62 from $2.22 and boosted 2005 estimates to $3.67 from $2.9.

Google (Research) stock has nearly doubled since the No. 1 search engine went public in August at $85 a share.

The shares soared 8 percent in after-hours trading Thursday, after rising during regular trading, following Google's first earnings report as a public company.

Google posted strong gains in sales and earnings, and the stock rallied as investors applauded the solid sales gains, which outpaced those at rival Yahoo!

And the stock continued to gain ground early Friday, touching $170 after topping $161 in after-hours trading Thursday.  Top of page




  More on TECHNOLOGY
Trump, Amazon and 'internet taxes': The real story
Robotic arm could clean up litter in space
How Android beat the iPhone to world domination
  TODAY'S TOP STORIES
Trump, Amazon, 'internet taxes': The real story
All U.S. banks pass Fed's stress tests for the first time
There's no 'kill switch' for malware attack




graphic graphic