UPDATE: Needham Raises PT on Google as Solid Quarter Alleviates Uncertainty and Raises 4Q13 Expectations

In a report published Friday, Needham & Company analyst Kerry Rice reiterated a Buy rating on Google (NASDAQ: GOOG), and raised the price target from $1,000.00 to $1,150.00.

In the report, Needham & Company noted, “We continue to like Google heading into Q4 as we expect paid clicks growth to remain solid, offsetting a continued decline in CPC rates due to the higher mix of ROW and mobile. We expect Enhanced Campaigns to make a modest positive impact as advertisers continue to adjust their models.”

Google closed on Thursday at $888.79.