Updated from 9:56 a.m. EST to provide additional analyst comments in the 11th paragraph.
NEW YORK (TheStreet) -- It was only last month an analyst said Google (GOOG) was going to hit $1,000 a share sooner or later. Now another one has joined the parade, as Wall Street becomes increasingly bullish on the search giant.
Jefferies analyst Brian Pitz raised his price target to $1,000 from $875, while reiterating a "buy" rating, based on e-commerce traction picking up, YouTube continuing to be the dominant player in video advertising and a belief that mobile cost-per-click will improve. Google shares have enjoyed a strong run this year, tacking on 16.1% year-to-date. The gains look to continue if Google is able to execute on its plan, Pitz notes.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV