RBC Capital Markets raised its target price for Google (GOOG Quote) on Tuesday, as a former Schwab SoundView analyst assumed coverage of the search-engine phenomenon and other Internet stocks.
New RBC analyst Jordan Rohan issued a report Tuesday dubbing Google his top pick and assigning a price target to the stock of $235.
That price is $90 higher than RBC's previous target for the stock -- which RBC had previously rated sector perform -- and it's also $35 higher than the target that Rohan had on the stock before he departed from SoundView, which is now owned by UBS.
Rohan's new price target is now the highest among Wall Street analysts for the stock, according to Reuters data. The $235 target edges past the $225 mark set by Credit Suisse First Boston's Heath Terry. Other members of the $200-plus club include Goldman Sachs' Anthony Noto, who has a $215 target price, and American Technology Research's Mark Mahaney, who is aiming for $210. Both CSFB and Goldman were underwriters of Google's IPO. ...
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