Google (GOOG) shares were up 1% in midday trading Thursday after analysts at ThinkEquity boosted their price target for the stock to 850 from 735.
Google shares already had topped ThinkEquity's previous price target, and are trading near 750.
ThinkEquity analysts Ronald Josey and Henry Guo write in a research note that search advertising was "relatively healthy" in Q3 and the company's fairly new mobile ad business seems to be getting stronger and "gaining share." The new Google Shopping initiative and new display ads should "directly drive revenue like Product Listing Ads," write the analysts.
Read More At IBD: http://news.investors.com/technology/101112-628947-google-shares-climb-on-price-target-hike.htm#ixzz291CdPtzo
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