Google at $600? Welcome Back, Henry--Er, I Mean SafaRob Hof
Piper Jaffray analyst Safa Rashtchy raised his target price on Google today to $600 by year-end. I'm sure I'm not the only one who's reminded of former CIBC Oppenheimer (then Merrill Lynch) analyst Henry Blodget's famous $400 target price on Amazon in October 1998. Of course, Blodgett turned out to be right. For awhile. Don't be surprised if it's the same with this $600 target. At the same time, don't be surprised if it falls way below that at some point. Google's an awesome company, but nobody's perfect.
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