Google (GOOG) PT Goes to $850 at Needham & Company

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Needham & Company raised its price target on Google (NASDAQ: GOOG) from $825 to $850 post Q4 results.

Analyst Kerry Rice comments, "Solid Q4 results exceeded expectations and reassured investors that Google’s core-Search business, especially on Google’s own websites, continues to perform well. CPCs and TAC are showing signs of stability. Looking forward, we expect the core business to garner more credit in coming months with Motorola Home out of the picture and the reduced impact of Motorola Mobile."

For an analyst ratings summary and ratings history on Google click here. For more ratings news on Google click here.

Shares of Google closed at $702.87 yesterday, with a 52 week range of $556.52-$774.38.

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