Google 'could hit $700 per share' as revenues surge

Google stock could rise as much as 25% to $700 per share, managers say, as the tech giant's latest earnings report showed impressive profit growth.

Google saw a 26% rise in profits in the third quarter, beating analysts' expectations. Revenue jumped 33% to $9.72bn, a fair chunk of which stemmed from its growth in the mobile phone market, accounting for 7% of revenues. Google shares climbed 6.4% to $594 shortly after the session opened today. Corman Weldon is manager of the £1.2bn Threadneedle American Select fund, which has a 3.5% position in Google. He said he still sees a further $150 of share price growth in the stock before it becomes fully valued. "Analysts see Google reaching the $700 range, I agree that would be a reaso...