Google shares could jump 35 percent – Barron’s

NEW YORK, July 18 (BestGrowthStock) – Google Inc (Read more about Google Stock Analysis) (GOOG.O: ) shares
could rise 35 percent, Barron’s weekly reported on Sunday,
citing bright prospects given its Android search engine,
YouTube and strong brand.

The business and financial weekly said in its July 19
edition that Google’s valuation is near a six-year low below
tech stock rivals Apple Inc (Read more about Apple stock future.) (AAPL.O: ) and Yahoo! Inc (YHOO.O: )
and $30 billion in cash gives it firepower to tackle rivals,
regulators and to develop new products or enter new markets.

Analysts’ consensus target for the stock is $629 per share,
or about 35 percent higher than Friday morning’s trading price
of $468, Barron’s reported. The stock closed down 6.97 percent
at $459 per share.

The newspaper said Credit Suisse analyst Spencer Wang
thinks the shares might be worth as much as $700 on a
discounted cash-flow basis. Barron’s quotes Wang as saying the
Mountain View, California, company is “in the process of
building a comprehensive mobile presence.”

RBC analyst Ross Sandler calls mobile search “the next
frontier for paid search” and says Google can capture 70
percent to 90 percent of the market, Barron’s reported.

The weekly said analysts predict Google’s online search
business will thrive as more advertising dollars leave
trditional media for the Internet, despite its new rivals.
(Reporting by Grant McCool; editing by Gunna Dickson)

Google shares could jump 35 percent – Barron’s