Prediction One of the Worlds Biggest Stocks Could Still Have Room to Run

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News Source : 24/7 Wall St.

News Summary

  • Google ( NASDAQ:GOOG | GOOG Price Prediction ) trades at $328.38 after a 7.66% pullback over the past month.
  • Our 24/7 Wall St.
  • price target for Google is $509.02, implying 55.21% upside over the next 12 months.
  • The bear case starts with capital intensity.
  • Q2 CapEx hit $44.92 billion, free cash flow turned negative at $5.9 billion, long-term debt more than doubled to $98.2 billion.
Quick Read GOOG trades at a forward P/E of 14 with 55% upside to our $509 target, backed by 24% revenue growth and 82% Cloud expansion.

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