Well, today Stifel Nicolaus has come out and cut their price target on Google ( GOOG ) AGAIN LOL, to $525 but still rates it as a buy. As you can see below, this firm cannot be trusted due to them acting " after the fact" For once, I'd like to see a rating firm get ahead of things....sort of like Meredith Whitney did on the financial banks a year ago. As you can see below...every time Googles stock price has gone down, they have cut their price target. When Google goes up, they raise their price target. My 92 year old grandpa could do that for you for free!
Stifel Nicolaus Track Record on Google ( GOOG )
10/07/08 8:25am Rated Buy - Current Price - $374 - Price Target $525
9/02/08 8:25am Rated Buy - Current Price - $479 - Price Target $600
5/05/08 8:25am Rated Buy - Current Price - $594 - Price Target $675
2/28/08 8:25am Rated Buy - Current Price - $468 - Price Target $610
2/01/08 8:25am Rated Buy - Current Price - $532 - Price Target $675
10/11/07 8:25am Rated Buy - Current Price - $634 - Price Target $710
So as you can see....Stifel maintains a buy when the price keeps falling...they also cut the price target...and as soon as Google goes up ( 5/05/05 ) they raise it LOL