Google's Gallant Fan
Google (GOOG) got a boost from Wall Street on a day that saw renewed speculation that the stock might be vulnerable.
CIBC World Markets analyst Michael Gallant upgraded the search-engine phenomenon from sector performer to sector outperformer over the weekend and placed a $245 price target on the stock.
News of the report coincides with the reported expiration of the last and biggest lockup on insider stock sales at Google. On Monday, analysts calculated, theoretically up to 177 milllion of Google's 286 million shares outstanding could come on the market, though many of those shares are in the hands of senior executives and are unlikely to hit the market anytime soon.
Google's shares fell $1.25 Monday to trade at $186.15. The stock, priced at $85 a share in Google's initial public offering of stock six months ago, hit a high of $216.80 in early February, following release of the company's
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