Merrill Lynch was good enough to raise its price target on Google (GOOG) from $590 to $740.
Google closed above $615 yesterday. This now makes for the highest of the recorded analyst price targets. Recently Bear Stearns hiked its target to $700 per share, and Jim Cramer went with $701 to be the highest price target out there for one of his "new four horsemen of tech." We just recently outlined what the company would look like if it suddenly had a $700 stock price.
Shares are up roughly 1% at $621.00 in pre-market activity at new all-time highs.
Douglas A. McIntyre