Yow. GOOG 250

Safa Rashtchy, whose opinion I value, just came out with a his first report on Google (so far I only have the PDF), setting a price target for GOOG of 250. The stock has been moving up alot, it went up on anticipation of Yahoo’s good numbers yesterday, and today it’s up again, to nearly 200. But 250? Safa says why:

Initiating with Outperform rating and a $250 price target;

We believe Google will become the segment leader and the must-own stock in our sector, as sustainable growth pattern becomes clear to investors;

We believe there is substantial new revenue opportunity for Google as it leverages its major technology and brand assets, beyond current search revenues;

Google remains the No. 1 company in search with more than 50% global market share;

Global search revenues will reach $22 billion by 2010; growth continues to be robust.