Jefferies Reiterates Buy on Google on PLA Usage Remaining Strong

In a report published on Friday, Jefferies analyst Brian Pitz reiterated a Buy rating and a $1000 price target on Google GOOG.

In the report, Jefferies stated, "Our latest proprietary Product Listing Ad (PLA) checks confirm more advertisers are running more ads than ever. PLA penetration lvls in the UK are about 12 mos behind the US, but growth is high - a +ve given GOOG transitioned its Int'l Shopping program to a paid svc in Feb. Ahead of earnings, traffic trends look solid, especially at YouTube, where we model $4.35B rev in '13."

Google closed on Thursday at $920.24.