Andy Kessler, who made his bones with Wall Street Meat, a book that skewered people being welcomed back by John Battelle sums up the current silliness around Google’s price targets in his latest post….
Ah, price targets are back in fashion. And stupid investors will fall for them again. It’s what we do on Wall Street while we wait for real news. Analyst Safa Rashtchy at Piper Jaffray made a splash with a $600 target on Google. Not to be outdone, an old competitor of mine, Mark Stahlman (is he still at it?) now at Caris & Co., declared Google will hit $2000, or about a $650 billion market cap. Yeah, maybe.