Google shares opened at an all-time high and surged past $1,000 for the first time on Friday, after the search engine giant reported a surge in mobile and video advertising that helped drive quarterly revenue up 23 percent.
At least 16 brokerages raised their price targets on the stock to between $880 and $1,220, with...
Deutsche Bank bumping up its target price by 26 percent.
The shares jumped 10.7 percent to a new high of $983.70 soon after the opening bell on the Nasdaq, before easing back.
Google said paid clicks increased by a quarter in the three months ended September 30, from a year earlier, the highest rate of growth in the past year.
This offset an 8 percent fall in average cost-per-click, the price advertisers pay Google when consumers click on their ads.
"We view solid paid clicks growth to be a good indicator of demand, driven by the continued shift to mobile," J.P. Morgan analysts said.
They had expected 21.5 percent growth.
Source:http://www.cnbc.com/id/101093044
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