Wall Street sees lots of upside for Google

Despite a 40% bounce over the past few months, shares of Google Inc. are trading at a historically cheap level as the Internet search giant shifts its top management and continues to grow its business.

Google /quotes/comstock/15*!goog/quotes/nls/goog (GOOG 629.11, +2.34, +0.37%) surprised investors late Thursday by announcing that co-founder Larry Page will be taking the CEO reins as Eric Schmidt becomes chairman — where he will focus on big-picture strategy as the company sees competition grow from many angles. Read full story on Google's CEO shift.

The news came as Google also posted a 30% gain in earnings for the fourth quarter — solidly beating analysts’ projections for the period.

Shares of Google were up slightly to $627.65 by late Friday morning. The stock had set a fresh 52-week high near the $640 mark earlier this week

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- Posted: 2011-01-21 11:06:41

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