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CSFB Pegs Google's Upside at $350





Do you smell the bubble? It isn't long ago before someone sets a price target of $400 for Amazon. I simply cannot see how Google can be a sensible investment at 10x forward revenue.

From MarketWatch:

Shares of the Internet search engine (GOOG: news, chart, profile) quickly jumped $7.51, or 2.7%, to $284.78 after analyst Heath Terry boosted his price target on the stock to $350 from $275.

Terry carries an outperform rating on the stock, which closed at an all-time high of $277.27 on Tuesday.

"While there will certainly be plenty of volatility in the stock price, particularly over what is supposed to be the slower summer period, we believe shares have further to go given the momentum in the company's core advertising business, the growing impact of new business like Gmail, Froogle and Local and a valuation that, relative to the company's growth rate, is far from stretched," Terry wrote in a research note.

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