Congratulations to Mark Rowen

The Stalwart would like to congratulate Prudential analyst Mark Rowen for sticking his neck out there and raising his target on Google (NASD: GOOG) to  $400 Dollars Per Share:

NEW YORK (MarketWatch) -- Prudential Equity Group raised its price target on Google to $400 from $284 after the company reported second-quarter earnings. "We are particularly impressed that the company's revenue growth accelerated to 110% year-on-year growth in the seasonally weak second quarter, up from 104% growth last quarter," analyst Mark Rowen said in a note.

The question of when someone would raise Google to the magical four-century mark was the subject of speculation on Wall St., as that number is strongly associated with the dot-com buble.  After all it was none other than discgraced analyst Henry Blodget who famously put a $400 price target on shares of Amazon (NASD: AMZN) and the final leg of the bubble was on.

But who is this brave soul, Mark Rowen?  Well, he's the one who told you to sell your AMZN back in 2001 because they were supposedly losing market share to Barnesandnoble.com.  You can see how well that would have done for you:

Or perhaps you listened to Mark Rowen back in late 2o00 when he put a split adjusted targetof $45 on Yahoo (NASD: YHOO).  Not only would you still be waiting for that number today.  But you would have watched the stock go as low as $4/share along the ride. 

Congratulations Mark Rowen, you are a fitting analyst to make the call of Google $400.

Comments

[Ed]

just in time too, as google begins to give guidance? maybe this marks a temporary top in public love of the stock.

http://ddo.typepad.com/ddo/2005/07/some_thoughts_o.html

[Mike]

My kind of blog, one with a memory. You should read what I've said to Kudlow and Luskin.
Mover Mike

[Goog]

Good work with the research on Rowen. Being a stock analyst has to be a lot easier when you you mind looking like an ass.