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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


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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
© 2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices .