UPDATE: Cantor Fitzgerald Initiates Coverage on Google with Buy Rating, $830 PT

In a report published Friday, Cantor Fitzgerald initiated coverage on Google

with a Buy rating and $830.00 price target. Cantor Fitzgerald noted, “We're initiating coverage of Google with a BUY rating and $830 PT. Google is the world's dominant search engine with over 75% of search budgets in the U.S. alone. While the vast majority of revenues come from Search, a segment that's still growing double digits for the company, Google remains at the forefront of innovation and, as such, has made great strides in display and mobile, two multi-billion dollar segments where we believe the company will dominate over time.” Google closed on Thursday at $718.28.