Jim Lynch: Off the Top of My Head…

Heh. Coop has a funny column about Google’s stock price. I wondered how in the hell it could be valued so high given what Google’s business is but these “analysts”…wow…they just went on and on and on about. Who in their right mind would have bought Google at $985? OMFG…talk about insane!

But that was enough to send the lemmings on Wall Street into an unprecedented frenzy. I don’t know if some of these guys made a habit of sitting in front of their computers with a pound of weed and a bottle of tequila at the ready, but they soon let loose with a round of jaw-dropping stock price predictions. Here’s a partial list of the revisions:

•  Anthony Noto, Goldman Sachs: To $800 from $620

•  Jeffrey Lindsay, Bernstein Research: To $720 from $625

•  Jordan Rohan, RBC: To $725 from $690

•  Mark Mahaney, Citigroup: To $775 from $600

•  Heath Terry, Credit Suisse: To $800 from $600

•  Jason Helfstein, CIBC: To $700 from $690

(The crazy thing is that three of the predictions actually materialized shortly thereafter. Shares of Google touched $741.13 on November 7, 2007.)

But Dinosaur Securities analyst David Garrity, deserves special mention with his $985 price target.

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