UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Google

In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Google (NASDAQ: GOOG), and raised its price target from $850.00 to $875.00.

Jefferies noted, “We reiterate our Buy as GOOG posted solid 4Q results, and remains best positioned against significant opportunities in mobile (Android, AdMob), online video (YouTube), commerce, and display. For the quarter, gross rev increased +36% Y/Y to $14.4B with numerous positive data points across Google's standalone business. Motorola was again the soft spot, but we are encouraged by management's active role in turning that business around.”

Google closed on Tuesday at $702.87.