Google $513 Next Stop

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The target for Google(GOOG Quote) is $513. I believe that the Goldman Sachs note, reiterating the buy rating and raising estimates to $2.90 for the quarter, could get this stock there. That's the 52-week-high, and if we take it out you have a good chance to ramp right to $550 and beyond!

Anthony Noto, the Google analyst, is the best in show on this tock. He's got a solid, rigorous analysis, including big monetization of MySpace and eBay(EBAY Quote) relationships, and growth from new formats such as YouTube and again, MySpace. Those, plus Google's own initiatives such as premium Google applications, will all produce the upside.

What's most exciting to me, though, besides the near term, is the incredible $17.47 earnings estimate for 2008. Holy cow. What should we pay for that kind of growth? How about if we just give the stock a 40 multiple -- which is not even the top multiple out there, despite this company have the highest-percentage earnings growth of any big-cap? ...