UPDATE: Global Equities Research Raises PT to $830 on Google on Search Uptick

Global Equities Research reiterated its Over-weight rating on Google GOOG and raised its price target from $765 to $830. Global Equities Research noted, "We are raising Google's 3Q'2012 revenues to reflect acceleration in Google's Search, YouTube and Google Display business. Google continues to gain monetization market share against Yahoo Search and Microsoft Bing. Our new 12 – 18 month price target of $830 on Google is based on a EV/OpInc multiple of 10.8x FY2013E Operating Income estimates of $25,210 million." Google closed at $709.68 on Friday.