Google Taking On New 52-week Highs (GOOG)

Posted in after-hours, pre-market 
October 16th, 2009

Google Inc. (NASDAQ: GOOG) traded up after the king of internet search posted better than expected earnings and better than expected revenues and ended the quarter with some $22 billion in cash.  There are many analyst price target upgrades seen: Stifel Nicolaus raised target to $650; UBS raised target to $635; JPMorgan raised target to $608; Goldman Sachs raised target to $635; BofA raised target to $640; Citi raised target to $640.

Google closed at $529.91 and shares are up almost 3% at $545.77, but only on about 25,619 as of 8:17 AM EST.  Be advised that in the after-hours session last night Google traded at $547.00, up by 3.23% on about 1.86 million shares, so this trading volume is rather light considering the trading yesterday.  These prices will be new 52-week highs if the price gains hold up.

JON C. OGG
OCTOBER 16, 2009

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