The firm kept its price target at $560. Google rose $7.45 early Wednesday to $465. The stock hit $513 in January in the run-up to the company's fourth-quarter earnings report.
Meanwhile, Merrill Lynch raised its price target on
by a dollar to $34, citing the strength of the Project Panama ad system. The firm rates the stock, which has rallied 20% this year after a terrible 2006 that lopped off a third of its value, a buy. Shares rose 14 cents early Wednesday to $30.94.