Google's Underwriters Like the Stock

Google's (GOOG Quote) underwriters started coverage of the search-engine company's stock Tuesday, setting price targets as high as $145.

That 12-month goal for the stock, from Credit Suisse First Boston's Heath Terry, represents a 20% increase from Google's price Tuesday morning and a 71% gain from Google's initial public offering price of $85 a share.

CSFB's report was one of at least five positive reports issued Tuesday by Google's underwriters following the 40-day post-IPO blackout on research from a company's underwriters.

Contrasting with mixed reviews for Google already published by analysts from firms that didn't participate in Google's IPO, CSFB's report, along with initiations from fellow joint book-running manager Morgan Stanley and underwriters Thomas Weisel Partners, WR Hambrecht and J.P. Morgan, all assigned Google ratings equivalent to a buy. ...