The internet search engine success story Google has hit new heights with the stock going over 600 dollars after analysts at Lehman Brothers raised their price forecast for the shares to the highest on Wall Street.
Analyst Howard Silverblatt of Standard and Poors said it has come a long way since the shares went on sale in August 2004 at 85 dollars each: “It is the 11th largest company – on an unweighted basis, unfloat adjusted – in the index. Obviously it’s had a long run from the 85 of several year ago and it joins the few companies that are trading now at higher prices.”
Amid reports that Google could soon introduce its own mobile phone, Lehman Brothers raised its share price target to 714 dollars, that is more than 500 euros.
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