Google boosted at Wells Fargo

|By:, SA News Editor

"Google (GOOG) is well positioned to benefit from the migration of brand advertising dollars online," says analyst Peter Stabler, upgrading to Outperform with price target raised to $1,300-$1,350 from $900-$1,000. "We anticipate Google will strengthen its leadership position in the fight for brand budgets and raise 2013/2014 EPS from $43.82/$51.83 to $44.30/$54.4."

Near-term, Wells says, product listing advertising adoption accelerated meaningfully last quarter based on commentary from SEMs and leading e-commerce platforms.

Midterm, there's the YouTube revenue model and proprietary analysis of Nielsen TV quintile data. "Simply said, Nielsen quintile data clearly points to online video as an ideal campaign supplement to aid reach of light-viewing linear TV consumers, a critically important audience for most TV advertisers."

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