NEW YORK ( TheStreet) -- It isn't Google's ( GOOG - Get Report) Android mobile phone success, nor the upcoming Chrome computer operating system. UBS put a $700 price target on the stock Thursday due to a rebound in good, old Internet ad pricing.

UBS analysts say October cost-per-click and keyword pricing trends were a solid improvement over September levels. If true, this is a bullish sign that Google's core search ad business may be enjoying a recovery.

The note comes as Google's Android effort takes a big step up on the wireless stage with seven phones selling at more than a dozen phone companies. The target raise also comes as Google gets set to release its Chrome operating system to developers, the boldest attack yet on Microsoft's ( MSFT - Get Report) PC software kingdom.

Search advertising accounts for 97% of Google's total sales, which exposed Google to the dramatic downturn in ad spending during the financial crisis. But Google muddled through a rough year and held on to its dominant position in the industry.

ComScore data this week showed that Google gained half a percentage point in overall sequential search market share in October despite a strong showing by Microsoft's Bing service. Google held 65.4% of the market while Bing came in at 9.9% and Yahoo! ( YHOO) slipped half a percentage point to 18%, according to ComScore.

Google shares were down 1% to 573.00 in premarket trading Thursday.

-- Written by Scott Moritz in New York.