NEW YORK (TheStreet) -- Shares of Google (GOOG) - Get Report may climb in Friday's trading session, following a price target increase to $681 from $640 by analysts at Cowen this morning.

The firm maintained its "outperform" rating on shares of the global technology company, and said it believes mobile search can offset the shift to iOS.

Cowen analysts noted that Google's YouTube has the potential to gain some market share from the large TV advertisement market.

Also the firm said that the GooglePlay store could be valued at about $50 billion.

Google stock is trading slightly lower by 0.05% to $555.25 in pre-market trading today.

The Mountain View, CA-based search engine focuses its business around search, advertising, operating systems and platforms, enterprise, and hardware products.

Insight from TheStreet's Research Team:

Google is a core holding of Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. During the most recent weekly roundup, this is what Jim Cramer, Portfolio Manager & Jack Mohr, Director of Research - Action Alerts PLUS had to say about the stock:

Shares had a stellar week following a crucial upgrade and a bevy of positive analyst commentary. On Monday, Bank of America Merrill Lynch upgraded Google to a buy (with a $650 price target) predicated on several points. The first was early signs of renewed product momentum (Google I/O in May might be more impactful than last year). Second was accelerating gross profit growth in the fourth quarter and the opportunity for upside in the second half of the year with app search ads. Third, was low street earnings estimates and, finally, the attractive multiple vs. the S&P 500 (8% premium vs. 22% average).

We continue to see great value in Google shares at 18.5x forward estimates, slightly below historical with double- digit earnings and revenue growth and industry dominance. We now look for any news about its cash hoard and whether it will announce a distribution of some sort -- something hinted at on the 4Q call. Our target is $600.

- Jim Cramer and Jack Mohr, 'Weekly Roundup' originally published 3/6/2015 on ActionAlertsPLUS.com.

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Separately, TheStreet Ratings team rates GOOGLE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate GOOGLE INC (GOOGL) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, robust revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself." You can view the full analysis from the report here: GOOGL Ratings Report