Why Google could soar to $1,300

A UBS analyst ups the stock's price target, citing innovation and a push toward 'disruptive endeavors.'

By InvestorPlace Jan 7, 2014 4:39PM

The Google logo is seen on a podium and projected on a screen at Google headquarters in Mountain View, Califorina Paul Sakuma/AP By Christopher Freeburn


Google (GOOG) is on a run. The stock climbed above $1,000 a share for the first time in October and has been setting all-time highs constantly ever since.


Still, UBS analyst Eric Sheridan says he thinks Google is poised to rise even higher.


On Monday, Sheridan issued a research note raising his target price for Google stock to $1,300 a share. That's a $200 jump from his prior target price for Google stock, Barron's notes.


Sheridan says the stock has more room to grow because the company "continues to innovate" and is pursuing "disruptive endeavors." He expects those efforts will allow Google to increase its reach into new markets.


The analyst had already marked Google stock as a "buy," a position he is sticking with. Sheridan predicts that Google will be able to realize strong revenue growth with "flattish margins" while providing "cash returns to shareholders."

Google's stock price rose more than 1% in Tuesday morning trading, setting all-time intraday highs above $1,137 per share.


Originally built around its popular Internet search engine, Google has since become a broader technology giant. Its reach has expanded to include a mobile operating system and devices, a program to create self-driving cars and wearable computers, among other things.


Just last month, Google purchased Boston Dynamics, which develops robots for the U.S. military.


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Tags: GOOG
9Comments
Jan 7, 2014 9:45PM
Jan 7, 2014 8:38PM
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DIE GOOGLE DIE I AGREE WITH LAST ON EARTH WHO I THINK IS A BIG NUTJOB BUT

HE'S RIGHT! OBAMA SUPPORTERS AND BIG LIBERAL COMPANY HELPING OBAMA AND

DEMONCRAPS DESTROY THIS COUNTRY AND SPYING ON PEOPLE! I'VE REMOVED

THEM FROM MY COMPUTER AND WOULD NEVER USE GOOGLE FOR ANYTHING!

Jan 8, 2014 1:28PM
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Doing a lot better than my AltaVista and Lycos stocks did.
Jan 8, 2014 12:26PM
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stocks like this are nothing more than fodder for the"bulls and bears" on Wallstreet. What would those pinheads do without such nonsense. Trade,trade,trade, what a life. So irrelevant to 90% of everyone else's life. It's "cloud" investing. Companies like Google,Apple,etc. keep spitting out **** that people really don't need and then use Wallstreet to pimp market their next great service to the common folks. It's not like electricity is being invented!  This economy can't, going forward, rely on these technologies to improve the overall status of living for workers. Everyone doesn't want to be a computer geek,software person, or anything else to do with a computer. But big business and greed keep pushing all of us to except this crap. Soon robots will be putting more people out of work. Watch and see!!
Jan 8, 2014 8:17AM
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 I see Google gave the dnc money it's election year.
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And that means more billions going into Google co-founders' pockets.Larry Page and Sergey Brin.
Jan 7, 2014 5:25PM
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