Google's (GOOG) stock is on a tear, hitting new highs and breaking through $800 per share this week. The stock is up roughly 30% year-over-year and more than 10% year-to-date. During mid-day trading, shares were selling for $8.00.57.
Now at least two analysts on the street think the stock could hit $1,000. CLSA raised its price target to $1000 as cost-per-clicks improve and a Bernstein Research analyst called YouTube "an underappreciated asset" and mobile "a large value creation opportunity."
At the same time, Deutsche increased its target to $935 from $800, also because of the potential in mobile.
Long-time Google bull Howard Lindzon, co-founder and CEO of Stocktwits.com, joined The Daily Ticker's Aaron Task to discuss Google's upward momentum. "It makes sense for analysts to do this," he says. "There is a lot of momentum around this brand."
The recent, renewed interest in Google is due in large part to a number of major announcements made by the company, including:
- Google Glass: The