Piper Jaffray & Co. announced predictions that the stock price for Google Inc. will increase by 35 percent to $600 by the end of 2006.

Google debuted its shares in August 2004 at $85 and is now currently trading at $445.

Last month Google took a five percent stake in Time Warner Inc.'s AOL internet unit. The move was seen as a way for Google to augment its web search market lead against rival Yahoo! Inc.

"While most people associate the ecosystem with nature, we think it also applies to business sectors and believe Google is in the midst of nurturing its own ecosystem, much like Microsoft and IBM did in the past," says Bear Stearns Analyst Robert S. Peck.