A market rally and a BofA/Merrill upgrade to Buy help send Google (GOOG +1.7%) back above $800....


A market rally and a BofA/Merrill upgrade to Buy help send Google (GOOG +1.7%) back above $800. Joining a crowded bandwagon, BofA says it's now "less concerned" about the mobile shift, and points out tablet ad prices will soon match PC ad prices (but traffic acquisition costs are much higher). The firm also thinks a recent mobile-centric overhaul of AdWords will boost mobile ad prices, and believes eBay's 2012 multiple expansion "sets a positive precedent". Merrill downgraded Google in October, when shares were 16% lower.

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