Google "outperform," target price raised - update

11/20/07 - Credit Suisse

NEW YORK, November 20 (newratings.com) - Analyst H Terry of Credit Suisse maintains his "outperform" rating on Google Inc (GOOG), while raising his estimates for the company. The target price has been raised from $800 to $900.

In a research note published this morning, the analyst mentions that opportunities in areas such as mobile, display and local would boost Google’s top-line and EPS growth to more than 35% and at least 30%, respectively, over the forthcoming five years. In search, Google is expected to continue to increase its market share until it becomes a monopoly, the analyst says. The DoubleClick acquisition is expected to act as a medium for Google’s successful penetration of the online display advertising business, Credit Suisse adds. The EPS estimate for 2008 has been raised from $18.75 to $18.93.