Google Stock Set To Surge As Analyst Forecasts Double-Digit Growth

Google’s stock price has significant upside potential according to fresh commentary from a top Wall Street analyst. Daniel Bartus of Baird recently initiated coverage of Google stock with an Outperform rating. And set a 12-month price target of $135, well above the current share value.

In his note, Bartus cited Google’s unparalleled position in internet search and ongoing momentum in other businesses as reasons for his optimistic outlook. With search advertising making up over 80% of total revenue, Google remains heavily reliant on its core search engine. However, Google stock should benefit from expanding into adjacent markets. Like cloud services, hardware, and newer initiatives in healthcare, education and smart home technologies.

Google’s Massive Cash

The analyst also believes Google’s massive cash hoard of over $100 billion gives it ample funds and flexibility to make strategic acquisitions. Or significantly boost spending on research and development. This will help Google ward off competition from rivals and tap into high-growth opportunities that could become major revenue drivers over the long run. With financial firepower and a history of innovation, Google stock is well positioned for continued dominance according to Bartus.

In conclusion, the new price forecast indicates significant near-term appreciation potential for Google stock. Investors looking for a leading tech name with strong finances and opportunities across diverse sectors should be optimistic on Google’s shares. As it diversifies revenues and invests to expand into new domains. Google stock may outperform the broader market in the coming year.