NEW YORK (Dow Jones)--Piper Jaffray raised his stock price target on Google (GOOG) to $300 from $275, citing the potential benefits of the company's rapid expansion into non-Internet search services.
"The company is aggressively focused on production better versions of a number of widely popular applications, including maps, local search, desktop search, news, email and now homepage," analyst Safa Rashtchy said.
"In doing so, Google should be able to extend its brand successfully and build a long-term advantage."
The stock closed Friday up $6.80 at $266.
(END) Dow Jones Newswires
May 31, 2005 07:47 ET (11:47 GMT)